Producer Price Indices - Basic Information
Introductory note | Contents |
Released since 2007 have been price indices calculated according to new revised index patterns, which are based on the structure of 2005.
The weight systems and samples of price representatives and reporting units (respondents) were revised in the framework of a comprehensive revision, which was run for individual price areas during 2006. The weights were determined on the basis of sales (revenues) for 2005.
At the same time, the basic period was changed. It is now average of 2005 for new Agricultural producer price index, Construction work price index and Market services price index, but it is December 2005 for new Industrial producer price index released since 2007. The average of 2005 as a standard index reference period is preserved. It means, it is in the case of Industrial producer price index calculated in a derived way from the constant base December 2005 like other price bases.
The price indices are calculated for prices of samples of representatives and for selected reporting units by aggregating simple price indices into an aggregate using a modified Laspeyers formula. The calculation uses 2005 constant weights.
p1 = the reference period price,
p0 = the basic period price,
p0 q0 = the constant weight: value indicator, usually in terms of per mill (sales, 2005 revenues).
A detailed breakdown of the aggregate indices is given in separate publications, including methodological notes, which are available as a rule on the 25th calendar day following the reference period.
Forestry price index (raw timber) is now excluded from this publication due to change monthly periodicity of monitoring forestry prices to quarterly one. Mentioned index will be released by separate publication on the 22nd calendar day after reference period.
Special capture “Methodology of conversion of the time series” situated in conclusion is engaged in continuation of the time series published before.