Prix et parités de pouvoir d'achat (PPA)

Producer Price Indices - Frequently Asked Questions (FAQs)

 

1. What is the Producer Price Index (PPI)?

2. How does the PPI differ from the CPI?

3. Where can I download PPIs data?

4. Where can I find methodological information for PPI series published?

5. When are PPIs updated?

6. Are PPIs revised?

7. Which PPIs the OECD publishes?

8. What is the difference between PPI for domestic market and PPI for total market?

9. What are the OECD Zones calculated for PPIs? / How are they computed?

10. Why the OECD publishes PPI series with 2010=100 as reference period (Index, 2010=100)? What are the other measures available?

11. In which currency are PPIs expressed?

12. Where can I get more methodological information on PPIs?

 

 

1. What is the Producer Price Index (PPI)?

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PPI measures the average movements of prices received by domestic producers for goods and services sold on the domestic or/and on the export markets between one time period and another.
For further explanations on PPI definition, see the PPI ManualChapter 2.

 

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2. How does the PPI differ from the CPI?

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PPI measures price changes from the perspective of the domestic producers whereas the Consumer Price Index (CPI) measures price changes from the Household purchaser's perspective.
For further explanation on CPI, see the FAQs on CPI

 

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3. Where can I download PPIs data?

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 PPI data can be downloaded from the dataset "Prices and Purchaser Power Parities / Prices and price Indices -Producer Prices (MEI)" in OECD.Stat Extracts at the following address: http://stats.oecd.org/Index.aspx?DataSetCode=MEI_PRICES_PPI
In OECD.Stat Extracts you can modify the current data selection by using the top navigation bar to select specific "Subject", "Country" and "Time & Frequency". The data can be exported to Excel. For long time series we recommend using the text format. You may also consult the OECD.Stat Extracts' user guide.

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4. Where can I find methodological information for PPI series published?

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In OECD.Stat Extracts, methodological information is attached to each PPI series published, flagged by a small, red i.

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5. When are PPIs updated?

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PPIs are monthly data except in Australia and New-Zealand which publish quarterly PPI data. 

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The OECD updates PPIs for OECD countries and other major non-OECD economies in real-time following the PPI release calendar of each country.
The IMF provide the advance PPI release calendar at the following address: http://dsbb.imf.org/Pages/SDDS/CustomizedQuery/ByARC.aspx

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6. Are PPIs revised?

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The OECD Zones (OECD Total, OECD-Europe and Major seven) are revised each month as a result of revisions to the National Accounts and the PPPs.

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The OECD publishes only unadjusted PPIs that are not usually revised. However, PPIs published by the OECD could be revised for the two following reasons: 

 

1.

In some countries (e.g. Austria, Canada and the United States) there is an explicit revision policy to publish a preliminary PPI and then revised the index after some fixed periods (usually one to three months).

 

2.

The national reference period of PPIs is subject to change every 5 years in average in OECD Member countries. Providers could introduce in the same time methodological changes or/and new basket of products. These changes can lead to revisions of the series published by the OECD.

 

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7. Which PPIs the OECD publishes?

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For OECD member countries, PPIs are available in OECD.Stat Extracts in three different sets with a distinction between domestic and total markets: 

 

1.

Output PPIs by Economic activity: Four indicators are published: 1) PPI for Industrial activities, 2) PPI for Mining and quarrying activities, 3) PPI for Manufacturing, and 4) PPI for Food products and beverages and tobacco. Output PPIs by Economic activity are available at the following address: http://stats.oecd.org/index.aspx?queryid=26990

 

2.

Output PPIs by type of commodities/goods: Six indicators are published: 1) PPI Energy, 2) PPI Investment goods, 3) PPI Intermediate goods, 4) PPI Consumer goods, 5) PPI Durable consumer goods, and 6) PPI Non-durable consumer goods. Output PPIs by type of commodities/goods are available at the following address: http://stats.oecd.org/index.aspx?queryid=26987;

 

3.

PPIs by Stage of processing: 1) PPI Raw materials, 2) PPI Intermediate goods, and 3) PPI Finished goods. This type of PPIs is especially useful to analyze how inflation pressures are transmitted from one sector to another and are available only for some non-EU OECD member countries. PPIs by Stage of processing are available at the following address: http://stats.oecd.org/index.aspx?queryid=26988.

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For other major non-OECD economies, when PPIs are not available the OECD publishes Wholesale price Index by economic activities (e.g. Brazil, India and Indonesia) available at the following address: http://stats.oecd.org/index.aspx?queryid=26989.

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8. What is the difference between PPI for domestic market and PPI for total market?

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PPI for domestic market measures the average price change of all covered goods and services resulting from an activity and delivered to the domestic market only (national territory) while PPI for total market covers goods and services delivered to all domestic and foreign markets (national territory plus export).

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9. What are the OECD Zones calculated for PPIs? / How are they computed?

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The three following OECD zones are calculated with data going to January 1982:

 

1.

OECD-Total refers to the 34 OECD countries except Chile and Iceland. Prior to 1995, Chile, Czech Republic, Estonia, Hungary, Israel, Poland, Slovak Republic, Slovenia are excluded; 

 

2.

OECD-Europe refers to the 25 OECD countries that are found in Europe starting from 1995 except Iceland. Prior to 1995 Czech Republic, Estonia, Hungary, Iceland, Poland, Slovak Republic and Slovenia are excluded;

 

3.

Major Seven refers to the seven major countries: Canada, the United-States, Japan, France, Germany, Italy and United-Kingdom.

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The OECD Zones are calculated for the PPI for domestic manufacturing. Australia, Canada, New Zealand and the United-States do not produce PPI for domestic market and PPI Manufacturing for total market is used as a proxy.

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The OECD Zones for PPI are annually chain-linked Laspeyres indices. The weights for each individual link are based on the previous year's Gross Domestic Product expressed in purchasing power parities (PPP).
Hence OECD Zone aggregates are subject to revision as a result of revisions to the national accounts and the PPPs. In general, new weights for the most recent complete year are incorporated in either November or December of each year. See weights at http://www.oecd.org/dataoecd/45/50/44119636.xls.

 

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10. Why the OECD publishes PPI series with 2010=100 as reference period (Index, 2010=100)? What are the others measures available?

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All PPI series are published by the OECD with 2010=100 as reference year to facilitate comparisons across countries.
National providers may calculate indices using a different reference period (e.g. the United States publishes PPI for manufacturing with December 1984=100 as reference period); there are re-referenced by the OECD to 2010=100. 

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The OECD calculates and publishes also the movements of price indexes from one month to another expressed as percent changes: Percentage change on the same period of the previous year and Percentage change on the previous period. An advantage of calculating percent changes is that the result will be the same no matter what base period is specified.

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In summary, the three following measures for each published PPI series are available (for Annual, Quarterly and Monthly data):

 

1.

Index with 2010=100 as reference year;

 

2.

Annual change: Percentage change on the same period of the previous year;

 

3.

Previous period change: Percentage change on the previous period.

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11. In which currency are PPIs expressed?

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PPIs are indices expressed with a fixed reference period (2010=100) and by definition are not expressed in a specific currency.
However, prices of a transaction collected to calculate domestic PPIs are expressed in national currency whereas those for calculate PPIs for total market must be converted into national currency when transaction is made to another currency.

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12. Where can I get more methodological information on PPIs?

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More information on PPIs by country can be found on:

 

1.

Producer price Indices - Comparative Methodological Analysis, OECD, 2011 available at the following address: http://www.oecd.org/dataoecd/38/9/48370389.pdf

 

2.

The OECD MEI Sources and Definition system available at the following address: http://stats.oecd.org/mei/

 

3.

The NSOs websites.

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More comprehensive information and explanations for compiling PPIs are provided by:
The Producer Price Index Manual: Producer Price Index Manual - Theory and Practice, International Monetary Fund, Washington, D.C., 2004.
Electronic version of the Producer Price Index Manual is available at the following address: http://www.imf.org/external/np/sta/tegppi/.

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