Producer Price Index for Manufacturing (2018=100) July 2024
Table A Year-on-Year and Month-on-Month Growth Rates of Producer Price Index: December 2013 and November 2013 |
||
---|---|---|
TOTAL MANUFACTURING |
December
2013
|
November
2013
|
Producer Price Index (2000=100) |
152.5 |
151.8 r |
Year-on-Year Growth |
-4.0 |
-4.8 r |
Month-on-Month Growth
|
0.5
|
0.2
|
- Producer Price Index keeps negative annual rate
Producer Price Index (PPI, 2000=100) for manufacturing slowly declined to 4.0 percent in December 2013 from a negative 4.8 percent in November 2013, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. Furniture and fixtures (-35.4%) and machinery except electrical (-10.4%) led the sectors that posted decrements. On the other hand, the double-digit increases manifested by petroleum products (14.0%) and miscellaneous manufactures (12.9%) were not able to bring about an increased annual growth of the PPI. Refer to Tables 1 and A-1.
On a month-on-month basis, PPI went up to 0.5 percent in December 2013 from 0.2 percent in November 2013. Petroleum products led the eleven sectors with single-digit increases in prices. On the other hand, four sectors posted flat growths while five sectors posted deceases. Refer to Tables 1 and A-2
Gainers |
Year-on-Year Growth (percent) |
|
---|---|---|
December 2013 |
November 2013
(revised)
|
|
Petroleum Products |
14.0 |
7.3 |
Electrical Machinery |
3.3 |
3.6 |
Beverages |
5.2 |
5.2 |
Miscellaneous Manufactures |
12.9 |
13.9 |
Footwear and Wearing Apparel |
3.4 |
5.1 |
Printing |
9.0 |
9.0 |
Wood & Wood Products |
3.5 |
3.3 |
Textile |
1.7 |
1.7 |
Leather Products |
1.2 |
1.2 |
Non-Metallic Mineral Products |
0.2 |
0.6 |
Losers |
Year-on-Year Growth (percent) |
|
---|---|---|
December 2013 |
November 2013
(revised)
|
|
Transport Equipment |
-7.3 |
-9.0 |
Machinery Except Electrical |
-10.4 |
-11.1 |
Food Manufacturing |
-3.3 |
-5.0 |
Basic Metals |
-8.7 |
-9.3 |
Rubber and Plastic Products |
-7.7 |
-7.9 |
Chemical Products |
-3.6 |
-4.2 |
Furniture and fixtures |
-35.4 |
-38.2 |
Tobacco Products |
-7.3 |
-7.3 |
Paper and Paper Products |
-4.8 |
-4.7 |
Fabricated Metal Products |
-3.5 |
-3.5 |
Gainers |
Month-on-Month Growth (percent) |
|
---|---|---|
December 2013 |
November 2013
(revised)
|
|
Petroleum Products |
6.5 |
4.7 |
Food Manufacturing |
0.5 |
0.8 |
Machinery Except Electrical |
1.2 |
-2.7 |
Electrical Machinery |
0.4 |
1.9 |
Basic Metals |
1.0 |
-0.4 |
Chemical Products |
0.3 |
-0.1 |
Rubber and Plastic Products |
0.3 |
0.2 |
Footwear and Wearing Apparel |
0.5 |
1.0 |
Miscellaneous Manufactures |
0.2 |
0.8 |
Wood & Wood Products |
0.1 |
-0.6 |
Leather Products |
0.1 |
0.1 |
Textiles |
0.0 |
-0.1 |
Beverages |
0.0 |
0.0 |
Printing |
0.0 |
0.0 |
Tobacco |
0.0 |
0.0 |
Losers |
Month-on-Month Growth (percent) |
|
---|---|---|
December 2013 |
November 2013
(revised)
|
|
Transport Equipment |
-0.6 |
0.2 |
Non-Metallic Mineral Products |
-0.4 |
1.7 |
Fabricated Metal Products |
-0.3 |
-1.2 |
Furniture & Fixtures |
-1.0 |
-7.4 |
Paper and Paper Products |
-0.2 |
-1.0 |
Technical Notes
- Introduction
The National Statistics Office generates various price indices, one of these is the Producer Price Index (PPI). The PPI, a designated statistics, is generated through the results of the Producer Price Survey (PPS) conducted nationwide. The survey gathers monthly producer prices of selected products of establishments included in the market basket.
The PPI is used as a deflator of the Monthly Integrated Survey of Selected Industries (MISSI) to derive indicators for the Volume of Production Index (VoPI) and Volume of Net Sales (VoNSI).
- Method of Index Computation
PPI utilizes the Paasche-type method of index computation. The weights are computed from the value of production to derive concentration ratios from the Census of Philippine Business and Industry (CPBI) or Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI or CPBI are available and applied at the beginning of each survey year.
For the 2013 PPI, the weights of the major sectors and sub-sectors were computed from the results of the 2010 ASPBI for Manufacturing Establishments with total employment of 20 and over, which is the latest survey results.
The formulas in the computation of the PPI are as follows:
Industry group levels (3-digit PSIC)
Total Manufacturing (1-digit PSIC)
- Industry Coverage
Starting with January 2013 reference month, the PPI utilizes the 2009 Philippine Standard Industry Classification (PSIC) to classify sectors and industries. Twenty industry classes of the 2009 PSIC were grouped to form the industry coverage of the 2013 PPS. These are presented in the table below.
2009 PSIC CODE |
INDUSTRY DESCRIPTION |
---|---|
C10 |
Food manufacturing * |
C11 |
Beverages |
C12 |
Tobacco products |
C13 |
Textiles* |
C14,C152 |
Footwear and wearing apparel |
C151 |
Leather products |
C16 |
Wood and wood products* |
C17 |
Paper and paper products |
C18,J581 |
Printing and reproduction of recorded media |
C19 |
Petroleum products* |
C20,C21 |
Chemical products* |
C22 |
Rubber and plastic products* |
C23 |
Non-metallic mineral products* |
C24 |
Basic Metals* |
C25 |
Fabricated metal products |
C262,C275,C28,C263,C268 |
Machinery except electrical* |
C261,C264,C27,C29301 |
Electrical machinery* |
C29 except C29301,C30 |
Transport equipment |
C31 |
Furniture and fixtures |
C265,C266,C267,C32
|
Miscellaneous manufactures
|
- Response Rate
The response rate for December 2013 is 85.2 percent, which corresponds to the retrieval of 299 establishments’ reports out of the 351 samples for the survey. Refer to Table B.
Table B Response Rates For Total Manufacturing
(In Percent)
|
|
---|---|
December 2013 |
November 2013
(revised)
|
85.2 |
93.2r |
Missing prices for products of sample establishments are estimated using the short-term relative change of all available prices within the same industry class. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.