Producer price index: Difference between revisions
Content deleted Content added
Citation bot (talk | contribs) Add: title. Changed bare reference to CS1/2. | Use this bot. Report bugs. | Suggested by BrownHairedGirl | Linked from User:BrownHairedGirl/Articles_with_new_bare_URL_refs | #UCB_webform_linked 191/911 |
clean up refs |
||
| Line 5: | Line 5: | ||
Its importance{{clarify|date=November 2016}} is being undermined by the steady decline in manufactured goods as a share of spending.<ref>The Economist, Volume 387, May 31 – June 6, 2009, page 109</ref> |
Its importance{{clarify|date=November 2016}} is being undermined by the steady decline in manufactured goods as a share of spending.<ref>The Economist, Volume 387, May 31 – June 6, 2009, page 109</ref> |
||
==Related measures== |
== Related measures == |
||
A number of countries that now report a producer price index previously reported a [[wholesale price index]]. |
A number of countries that now report a producer price index previously reported a [[wholesale price index]]. |
||
==PPIs around the world== |
== PPIs around the world == |
||
===United States=== |
=== United States === |
||
[[File:Inflation data.webp|thumb|350px|right|PPI is a [[ |
[[File:Inflation data.webp|thumb|350px|right|PPI is a [[leading indicator]], CPI and PCE [[Latency (engineering)|lag]]<ref>{{Cite web|url=https://www.yahoo.com/now/does-producer-price-index-tell-190327824.html|title = What Does the Producer Price Index Tell You?}}</ref>{{legend-line|blue solid 2px|PPI}}{{legend-line|green solid 2px|Core PPI}}{{legend-line|grey solid 2px|[[Consumer price index|CPI]]}}{{legend-line|orange solid 2px|[[Core inflation|Core]] CPI}}{{legend-line|red solid 2px|[[Personal consumption expenditures price index|PCE]]}}{{legend-line|purple solid 2px|Core PCE}}]] |
||
{{Main|U.S. Producer Price Index}} |
{{Main|U.S. Producer Price Index}} |
||
In the US, the PPI was known as the Wholesale Price Index, or WPI, up to 1978. 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 of the United States|Federal Government]].<ref>BLS Handbook of Methods |
In the US, the PPI was known as the Wholesale Price Index, or WPI, up to 1978. 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 of the United States|Federal Government]].<ref>{{cite book|title=BLS Handbook of Methods|chapter= Chapter 14 Producer Prices, Background |url=http://www.bls.gov/opub/hom/homch14_a.htm| archive-url=https://web.archive.org/web/20101213024233/http://www.bls.gov/opub/hom/homch14_a.htm |archive-date=2010-12-13 |url-status=dead }})</ref> 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”.<ref>[http://www.bls.gov/ppi/ppicpippi.htm Senate Committee on Finance, Wholesale Prices, Wages, and Transportation, Senate Report No. 1394, “The Aldrich Report,” Part I, 52nd Congress, 2d sess., March 3, 1893; and U.S. Department of Labor, Course of Wholesale Prices, 1890–1901, Bulletin No. 39, March 1902, pp. 205–09.]</ref> |
||
at:http://www.bls.gov/ppi/ppicpippi.htm)</ref> |
|||
===India=== |
=== India === |
||
{{Main|Producer Price Index (India)}} |
{{Main|Producer Price Index (India)}} |
||
The [[India]]n '''Wholesale Price Index (WPI)''' was first published in 1902, and it now uses CPI. PPI is not yet formulated in India.<ref>{{Cite web|url=http://www.financialexpress.com/economy/new-wpi-series-india-moves-to-concept-of-producer-price-index-to-better-gauge-actual-price-pressure-in-economy/666547/|title=New WPI series: India moves to concept of producer price index to better gauge actual price pressure in economy}}</ref><ref>{{Cite web|url=https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=457|title=......it would be desirable to initiate steps to develop a producer price index (PPI) for the country.}}</ref> |
The [[India]]n '''Wholesale Price Index (WPI)''' was first published in 1902, and it now uses CPI. PPI is not yet formulated in India.<ref>{{Cite web|url=http://www.financialexpress.com/economy/new-wpi-series-india-moves-to-concept-of-producer-price-index-to-better-gauge-actual-price-pressure-in-economy/666547/|title=New WPI series: India moves to concept of producer price index to better gauge actual price pressure in economy}}</ref><ref>{{Cite web|url=https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=457|title=......it would be desirable to initiate steps to develop a producer price index (PPI) for the country.}}</ref> |
||
==See also== |
== See also == |
||
* [[Consumer price index]] |
* [[Consumer price index]] |
||
* [[Inflation]] |
* [[Inflation]] |
||
* [[Substitution (economics)|Substitution]] |
* [[Substitution (economics)|Substitution]] |
||
==References== |
== References == |
||
{{reflist}} |
{{reflist}} |
||
==External links== |
== External links == |
||
* [http://www.imf.org/external/np/sta/tegppi/index.htm IMF PPI manual] |
* [http://www.imf.org/external/np/sta/tegppi/index.htm IMF PPI manual] |
||
* [http://www.bls.gov/ppi/ United States PPI Homepage] |
* [http://www.bls.gov/ppi/ United States PPI Homepage] |
||
Revision as of 15:14, 15 February 2022
A producer price index (PPI) is a price index that measures the average changes in prices received by domestic producers for their output.
Its importance[clarification needed] is being undermined by the steady decline in manufactured goods as a share of spending.[1]
Related measures
A number of countries that now report a producer price index previously reported a wholesale price index.
PPIs around the world
United States
PPI
Core PPI
Core CPI
Core PCE
In the US, the PPI was known as the Wholesale Price Index, or WPI, up to 1978. 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.[3] 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”.[4]
India
The Indian Wholesale Price Index (WPI) was first published in 1902, and it now uses CPI. PPI is not yet formulated in India.[5][6]
See also
References
- ^ The Economist, Volume 387, May 31 – June 6, 2009, page 109
- ^ "What Does the Producer Price Index Tell You?".
- ^ "Chapter 14 Producer Prices, Background". BLS Handbook of Methods. Archived from the original on 2010-12-13.)
- ^ Senate Committee on Finance, Wholesale Prices, Wages, and Transportation, Senate Report No. 1394, “The Aldrich Report,” Part I, 52nd Congress, 2d sess., March 3, 1893; and U.S. Department of Labor, Course of Wholesale Prices, 1890–1901, Bulletin No. 39, March 1902, pp. 205–09.
- ^ "New WPI series: India moves to concept of producer price index to better gauge actual price pressure in economy".
- ^ "......it would be desirable to initiate steps to develop a producer price index (PPI) for the country".