Date Released: November 6, 2012
PRODUCER PRICE SURVEY SEPTEMBER 2012
Producer Price Index (PPI, 2000=100) for the manufacturing industry continued to decline as it registered a drop of 1.1 percent in September 2012, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. Thirteen major sectors posted decreases with wood and wood products recording the biggest decrement of 11.2 percent. On the other hand, increases in the PPI were noted in seven major sectors led by publishing and printing (6.1%), food manufacturing (5.7%) and rubber and plastic products (5.5%). Refer to Tables 1 and 1-B. On a monthly basis, PPI also recorded a decrease of 0.2 percent in September 2012 from a growth of 1.0 percent the previous month. Ten major sectors contributed to the decrease led by wood and wood products (-2.1%). On the other hand, seven sectors posted increases led by chemical products (2.3%) while three major sectors posted flat growths. Refer to Tables 1 and 1-B.
The National Statistics Office generates various price indices, one of this is the Producer Price Index. (PPI). The PPI is generated through the results of the Producers Price Survey (PPS) conducted nationwide. The survey gathers monthly actual producer prices of selected products included in the market basket. The PPI is the 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 Index (VoNSI). 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 2012 PPI, the weights of the major sectors and sub-sectors were computed from the results of the 2009 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:
The industry classification of the 2012 PPI utilizes the amended 1994 Philippine Standard Industry classification. There are 20 major sectors covered by the 2012 PPS with three consisting of subsectors.
Note: * - Major sectors categorized into sub-sectors The response rate for September 2012 is 85.5 percent, which corresponds to the retrieval of 282 sample establishments’ reports. Refer to Table 2.
Non-responding sample establishments are estimated using cold-deck imputation method. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.
TABLE 1-A. PRODUCER PRICE INDEX,
AUGUST 2012 - SEPTEMBER 2012
TABLE 1-B. PRODUCER PRICE INDEX,
AUGUST 2012 - SEPTEMBER 2012
Note: Sectors are ranked according to their contribution to the overall 2000-based growth rate. a/ - Less than 0.1 percent increase Year-on-year growth rates are computed by dividing the current month index by previous year same month index less 1. Month-on-month growth rates are computed by dividing the current month index by previous month index less 1 Source: National Statistics Office Manila, Philippines Page last revised: November 6, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
