Price inquiry on producer price indices for manufactured products and services
Description of the data collection
The producer price indices for manufactured products and services measure development in the prices of products and services enterprises produce for each other and for the public sector. The producer prices for manufactured products concern enterprises' import, export or domestic market prices, and the data are used for five separate indices: producer price index for manufactured products, export price index, import price index, basic price index for domestic supply, and basic price index for domestic supply, including taxes. The producer price index for services includes industry indices, which describe the average price development of the industry in question. The statistics describe the price development from enterprises' viewpoint.
For calculations of the producer price indices, data are collected from the data supplier enterprises on the prices of their products and services, enterprises' turnover and its breakdown between different service groups. The data to be inquired depend on whether the data supplier enterprise reports data on products or services.
The products and services have been selected in cooperation with data suppliers and their prices are monitored monthly or quarterly. The products and services that are monitored have been selected so that they would be as representative as possible and could be monitored as well as possible.
The European Union requires that producer price indices for manufactured products and services are compiled.
From whom are data collected?
The data collection for producer price indices for manufactured products covers enterprises that have production, imports or exports in the main groups A to F of the CPA2008 product classification. The data suppliers have been selected from the Business Register, commodity statistics of manufacturing, and the foreign trade statistics of Finnish Customs using a stratified random sample. In the producer price indices for services, data suppliers have been selected, depending on the service industry, either by applying PPS (Probability Proportional to Size) sampling or judicious sampling, or by combining judicious and probability-based sampling.
The producer price indices for manufactured products are collected from approximately 2,000 data suppliers. The inquiry pertains to one or several important product groups for the statistics. An enterprise that is selected for the inquiry on producer price indices for services is a producer of one or several important service groups. Data are collected from approximately 350 data suppliers. The numbers of price data items and data suppliers vary by industry.
The Statistics Act (280/2004) obliges Statistics Finland to treat the collected data as confidential. In the published statistics the data are reported at a level from which the data on an individual enterprise cannot be identified.
What are the data used for?
Producer price indices for manufactured products and services are used in GDP and volume calculations when measuring economic growth, for example. The statistics are also utilised in connection with financial analyses and to support decision-making related to economic policies. Research institutes and enterprises use the indices in their reports, monitoring and forecasts. They can also be used as index clauses in agreements.
Data collections for the producer price indices for manufactured products and services have been combined starting from the second quarter of 2016.
How often are data collected?