Producer price indices

Producer: Statistics Finland
Homepage: http:// www.stat.fi/til/thi/index_en.html
Main topic: Prices and Costs
Related topics: National AccountsManufacturingEnterprises
Official Statistics of Finland (OSF): Yes
European Statistical System (ESS): Yes

Description

The producer price indices measure the development of commodity prices from the perspective of enterprises. The producer price indices comprise five separately produced indices:

Producer price index for manufactured products
Export price index
Import price index
Basic price index for domestic supply
Basic price index for domestic supply, including taxes (former Wholesale price index)

All the above indices measure price development differently because the used price concepts and the covered industries vary by index.

Data content

Producer Price Indices 2015=100 cover the following product categories of the CPA 2015 classification:

The Producer Price Index for Manufactured Goods covers categories B to E (from mining and quarrying to water supply, sewerage, waste management and remediation activities)
The Export Price Index covers industries A to E (from agriculture, forestry and fishing to water supply, sewerage, waste management and remediation activities)
The Import Price Index covers industries A to E (from agriculture, forestry and fishing to water supply, sewerage, waste management and remediation activities)
The Basic Price Index for Domestic Supply covers industries A to F (from agriculture, forestry and fishing to construction)
The Basic Price Index for Domestic Supply, Including Taxes covers industries A to F (from agriculture, forestry and fishing to construction)

The Producer Price Index for Manufactured Goods measures average changes in the prices of goods sold by domestic producers. The index includes both goods sold at home and goods sold abroad. The price for goods intended for the domestic market is the so-called factory price exclusive of taxes. The price for export goods is the price obtained by the exporter, which is usually the same as the FOB (free on board) price of the exports.

The Export Price Index measures development in the FOB prices of export goods. Foreign-currency export prices are converted to euro using the mean rate for the statistical reference month.

The Import Price Index measures development in the CIF (including cost, insurance and freight) prices of import goods. Foreign-currency import prices are converted to euro using the mean rate for the statistical reference month.

The Basic Price Index for Domestic Supply measures developments in the prices of goods used in Finland as they first enter the market. The index includes both domestic and imported goods. The price for domestic goods is the factory price exclusive of taxes. The price for imported goods is the CIF price of the imports plus customs duties.

The Basic Price Index for Domestic Supply, Including Taxes 2015=100 corresponds with the Basic Price Index for Domestic Supply, but shows changes in the value added tax, excise taxes and vehicle taxes. The index includes both domestic and imported goods. The index includes the value-added tax and other indirect taxes. Besides the value-added tax, indirect taxes comprise diverse excise duties, and the vehicle tax. The price for domestic goods comprises the factory price, the value-added tax and other indirect taxes. The price for imported goods, in turn, comprises the c.i.f. price of the imports, customs duties, value-added tax and other indirect taxes.

Classifications used

The main classification is the standard industrial classification of the European Union, NACE Rev. 2. At the commodity level the producer price indices use the 6-digit Finnish version of the European Union’s activity-oriented CPA classification of goods and services. In addition, commodities are classified to main industrial groupings (MIGS): energy products, raw materials and producer’s goods, investment goods, and durable and other consumer goods. The SITC (Standard International Trade Classification) is used in indices whose base year is 1949. In addition, the ISIC (International Standard Industrial Classification) is used in the producer price index for manufactured products 1949=100.

Data collection methods and data sources

Most of the price data for the index calculations are collected from enterprises. Data from other price indices are also utilised. The number of price data items exceeds 5,000 overall, but varies by index.

The Producer price index for manufactured products 2010=100 includes over 600 headings and approximately 2,700 items of price data. The Export price index 2010=100 contains 350 headings and around 1,000 items of price data. The respective numbers for the Import price index 2010=100 are 600 and around 2,400. The Basic price index for domestic supply 2010=100 includes approximately 850 headings and over 4,000 items of price data. Same applies to the Basic price index for domestic supply, including taxes, 2010=100.

All price data collected from enterprises and the enterprises which supply the data are confidential.

Data collections

Updating frequency

One month.

Time of completion or release

Published on the 24th day of the month following the statistical reference month or on the first working day following it. The November’s statistics is published on the previous working day due to Christmas.

Time series

The indices are usually reviewed at five-year intervals. The base year of the current indices is 2010=100. Series with older base years can be found in Statistics Finland’s StatFin service on the Internet at: http://stat.fi/til/thi/tau.html. For further information about the indices, please contact Statistics Finland by email at: thi.tilastokeskus@stat.fi or by telephone at: +358 9 1734 1 / producer prices.

Keywords

basic price index for domestic supply, commodities, export price index, export prices, exports, import price index, import prices, imports, indices, industries, manufacturing, pellets, price indices, prices, producer price index for manufactured products, producer prices, products, wholesale price index, wholesale prices, basic price index for domestic supply, including taxes

Contact information

http://tilastokeskus.fi/til/thi/yht_en.html

Additional information

The publication Producer Price Indices also contains price data on energy products in Finland and international comparisons of producer price indices.

Last updated 21.05.2018