Decline in PPI goods

THE all items producer price index (goods) stood at 114.5 for the September quarter last year, representing a decline of 0.3 per cent when compared with a year earlier.

According to the Fiji Bureau of Statistics (FBoS), it however recorded an increase of 0.1 per cent when compared with the June quarter of 2017.

The producer price index measures the average change over time in the prices received by domestic producers of goods.

This is the prices of goods when they leave the factory or the producers’ premises. The movement of the all items producer price index is influenced by the preferential price for sugar, supplier prices of other manufacturing and food products including the world market price for gold.

The PPI (goods) survey covers the mining and quarrying industry, manufacturing industry, electricity and water.

Meanwhile, the FBoS, in the producer price index for services during the same quarter, it noted that the land and water transport index stood at 110.3 for the September quarter of 2017.

This represented an increase of 0.6 per cent when compared with the same period in 2016.

However, when compared with the June quarter of 2017, the land and water transport index showed no change.

The FBoS stated that higher prices recorded for water transport and freight transport by road contributed to the quarter increase.

The PPi for services covers land and water transportation services and measures changes in the average prices received by domestic service producers for a selected range of services.

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