A Producer Price Index (PPI) measures average changes in prices received by domestic producers for their output. It is one of several price indices calculated by national statistical agencies. A price index ( plural: “price indices” or “price indexes” is a normalized Average (typically a ''weighted'' average) of Prices for a
Its importance is being undermined by the steady decline in manufactured goods as a share of spending. [1]
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Related measures
A number of countries that now report a Producer Price Index previously reported a Wholesale Price Index. A Wholesale Price Index (WPI is the price of a representative basket of Wholesale goods
PPIs around the world
United States
In the US, the PPI was known as the Wholesale Price Index, or WPI, up to 1978. The official measure of producer prices in the US is called the Producer Price Index ( PPI) The PPI is one of the oldest continuous systems of statistical data published by the Bureau of Labor Statistics, as well as one of the oldest economic time series compiled by the Federal Government. The Bureau of Labor Statistics ( BLS) a unit of the United States Department of Labor, is the principal fact-finding agency for the U The federal government of the United States is the central United States Governmental body established by the United States Constitution. [2] The origins of the index can be found in an 1891 U.S. Senate resolution authorizing the Senate Committee on Finance to investigate the effects of the tariff laws “upon the imports and exports, the growth, development, production, and prices of agricultural and manufactured articles at home and abroad. The United States Senate is the Upper house of the bicameral United States Congress, the Lower house being the House of Representatives ”[3] at:http://www.bls.gov/ppi/ppicpippi.htm)</ref>
India
The Indian Wholesale Price Index (WPI) was first published in 1902, and was used by policy makers until it was replaced by the Producer Price Index (PPI) in 1978. The Indian Wholesale Price Index (WPI was first published in 1902 and was used by policy makers until it was replaced by the Producer Price Index (PPI India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country Year 1902 ( MCMII) was a Common year starting on Wednesday (link will display calendar of the Gregorian calendar (or a Common year starting The Indian Wholesale Price Index (WPI was first published in 1902 and was used by policy makers until it was replaced by the Producer Price Index (PPI Year 1978 ( MCMLXXVIII) was a Common year starting on Sunday (link displays the 1978 Gregorian calendar)
See also
References
- ^ The Econominst, Volume 387, May 31 - June 6 2008, page 109
- ^ BLS Handbook of Methods, Chapter 14 Producer Prices, Background (found online at:http://www.bls.gov/opub/hom/homch14_a.htm)
- ^ Senate Committee on Finance, Wholesale Prices, Wages, and Transportation, Senate Report No. CPI redirects here For other uses see CPI (disambiguation. A consumer price index ( CPI) is a measure of the average price of consumer In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 1394, “The Aldrich Report,” Part I, 52nd Congress, 2d sess. , March 3, 1893; and U. S. Department of Labor, Course of Wholesale Prices, l890–1901, Bulletin No. 39, March 1902, pp. 205–09.
External links
Dictionary
producer price index
-noun
- (economics) A statistical estimate of the level of prices of goods and services bought by domestic producers.
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