Innovation in Producer Price Statistics

Date: 19 February 2020

Geostat starts publishing new producer price indexes.  According to the recommendations received from the International Monetary Fund (IMF), active work was carried out in 2019 in order to improve producer price coverage. As a result of conducted surveys, Geostat will offer the users the following new indexes from February: 

•    Producer Price index for telecommunication service
•    Producer price index for accommodation and food services 
•    Domestic supply producer price index 

Producer price index of telecommunication services presents changes in the value of the relevant service over time, provided by the acting organizations in the field of telecommunications. 

The producer price index for accommodation and food services reflects the changes in the value of services for hotels, cafes and restaurants compared to the base period. As for the Domestic Supply Producer Price Index, its purpose is to show the price changes of domestically produced industrial products, as well as imported industrial goods, which are supplied to the domestics market.

In addition to the above, the quality of the index for transport services is significantly improved- from now on and it will reflect price changes for passenger transport services and warehouse and storage services, along with the existing freight transport services.

The purpose of the new surveys is to meet the increasing demand for data from statistical information users and to improve the GDP deflation process.

In addition to these changes, it should be noted that a new classification - the Statistical Classification of Products by Activity (CPA 2008) is implemented in producer price surveys from 2020. The purpose of this change is to harmonize it with the new methodology of  the System of National Accounts (SNA 2008), as well as to bring it closer to international standards.

For more information, please contact the Price Statistics Department 
Phone: 2 36 72 10 (400 or 407)