Producer Price Index for Manufacturing (2018=100) April 2024
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Year-on-Year
The Producer Price Index (PPI) for manufacturing continued to register an increment with an annual rate of 0.6 percent in December 2021. This was slower than the increase of 1.1 percent in November 2021. In December 2020, the PPI posted a decrement with an annual rate of -3.7 percent. (Table A and 1)
The increase in PPI in December 2021 was brought about by the positive growth rates of 15 industry divisions. Of these, manufacture of coke and refined petroleum products was the major contributing factor which posted a double-digit annual increment of 18.6 percent. (Tables C-1 and 1)
On the other hand, manufacture of wood, bamboo, cane, rattan articles and related products, with an annual decline of -13.0 percent, led the remaining seven industry divisions that recorded decrements in December 2021. (Tables C-1 and 1)
The annual average growth rate of PPI in 2021 showed a contraction of -1.8 percent. This was slower than the annual average decrement of -4.6 percent in 2020. Prior to the pandemic, the annual average year-on-year growth of PPI was -2.3 percent. (Table B)
Month-on-Month
Month-on-month, the PPI for manufacturing posted an increment with a monthly growth rate of 0.5 percent in December 2021 which was faster than the increase of 0.1 percent in November 2021. In December 2020, the PPI also posted a monthly increase of 0.9 percent. (Table A and 1)
Sixteen industry divisions recorded positive monthly growth rates in December 2021 with manufacture of wood, bamboo, cane, rattan articles, and related products registering the highest monthly increment of 2.4 percent. On the contrary, two industry divisions of the PPI recorded monthly decrements, with manufacture of machinery and equipment except electrical posting the highest monthly drop of -1.0 percent. The monthly growth rates of the four remaining industry divisions were at 0.0 percent. (Tables C-2 and 1)
DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
- Introduction
- Method of Index Computation
![Formula 1](/sites/default/files/betafiles/producer-price-survey/165954_tn1a_0.png)
![Formula 2](/sites/default/files/betafiles/producer-price-survey/165954_tn1b_1.png)
![Formula 3](/sites/default/files/betafiles/producer-price-survey/165954_tn2_8.png)
![Formula 3](/sites/default/files/betafiles/producer-price-survey/165954_tn3_6.png)
- Computation of Growth Rates
Year-on-year growth rates are computed by dividing the current month’s index by the index of the same month of the previous year less 1.
Month-on-month growth rates are computed by dividing the current month’s index by the previous month’s index less 1.
- Imputation and Revision
Imputation is done for sample establishments that are in operation during the reference period but with no received response during the release date. Results are revised accordingly when the actual data are received and these revisions are reflected in the next release.
- Industry Coverage
Starting with the January 2013 reference month, PPI utilizes the 2009 Philippine Standard Industrial Classification (PSIC) to classify sectors and industries. Selected industry groups of the 2009 PSIC were grouped to form the 22 industry divisions of the 2021 PPS. These are presented in the table below.
2009 PSIC CODE |
INDUSTRY DESCRIPTION |
---|---|
C10 |
Manufacture of food products * |
C11 |
Manufacture of beverages |
C12 |
Manufacture of tobacco products |
C13 |
Manufacture of Textiles |
C14 |
Manufacture of wearing apparel |
C15 |
Manufacture of leather and related products, including footwear |
C16 |
Manufacture of wood, bamboo, cane, rattan articles, and related products products* |
C17 |
Manufacture of paper and paper products |
C18 |
Printing and reproduction of recorded media |
C19 |
Manufacture of coke and refined petroleum products |
C20 |
Manufacture of chemical and chemical products* |
C21 |
Manufacture of basic pharmaceutical products and pharmaceutical preparations |
C22 |
Manufacture of rubber and plastic products* |
C23 |
Manufacture of other non-metallic mineral products* |
C24 |
Manufacture of basic metals* |
C25 |
Manufacture of fabricated metal products, except machinery and equipment* |
C26 |
Manufacture of computer, electronic, and optical products* |
C27 |
Manufacture of electrical equipment* |
C28 |
Manufacture of machinery and equipment except electrical* |
C29, C30 |
Manufacture of transport equipment* |
C31 | Manufacture of furniture |
C32, C33 | Other manufacturing |
* Industry divisions categorized further into industry groups
See more at the Producer Price Survey (PPS) main page.