Services producer price indices

On July 10, the National Bureau of Statistics released the June 2016 Consumer Price Index (CPI) and Producer Price Index (PPI).

The Intersecretariat Working Group on Price Statistics, having completed work on best practice manuals for consumer and producer price indices, made progress in drafting a parallel manual on export and import price indices.

OECD also publishes responses to the annual questionnaire on country developments in work on producer price indices for services.

It is worth noting other international work that does or may in future draw on the outputs of the Voorburg Group, for example the current work in progress on the manual on trade price indices under the aegis of IMF and the possible revision of the Producer Price Index Manual to incorporate work on services producer price index.

In recent years, the Voorburg Group has been concentrating on basic methodological issues related to producer price indices for services.

Producer

Producer

The fear now in both countries is that inflation shocks could turn into a self reinforcing price spiral. As the IMF cautions, core inflation excluding commodities has risen from 2 to 3.75 , suggesting that inflation is broadening.

Today, for a given rate of GDP growth, the corresponding inflation rate is substantially higher than it was over the past two decades. In other words, inflation especially house price inflation has become an important constraint on growth.

Consumer price inflation in the eurozone has been below target for 22 consecutive months long before the price of oil started collapsing. Cheaper oil is a boon for growth but it also lowers long term inflation expectations, which are the true target of monetary policy.

The consumer price index in July 2016 compared to June 2016 was 101.0 , i.e. the monthly inflation was 1.0 .

Associate producer

Executive Producer

Theoretical guidance has been provided in the International Monetary Fund Producer Price Index manual, to be published under the aegis of the Intersecretariat Working Group on Price Statistics, and will be further addressed in the OECD handbook on hedonic price indices, to be published in 2006.

The joint OECD Eurostat Task Force on Services Prices in Short Term Statistics is preparing a guide for the compilation of producer price indices for services.

The Producer Price Index Manual published by IMF in 2004 acknowledged that it (and the Consumer Price Indices Manual published by ILO in 2004) drew on the contents and conclusions of papers presented at meetings of the Voorburg Group.

The guide is complementary to the Producer Price Index Manual and is aimed at harmonizing concepts and providing practical advice for index compilation in the service area.

(a) Producer and

(a) Producer and

Producer Gustav Machaty

Yuuharu Atsuta Producer

Indeed, although structural adjustment continues in China, the economy is facing an increasingly serious contraction in demand and continued deflation. The consumer price index (CPI) has remained below 2 , and the producer price index (PPI) has been negative, for 44 months.

Falling oil prices and the prospect of a prolonged period of low inflation also seem to have affected inflation expectations. Given the potency of the recent oil price shock, the risk is that inflation may temporarily slip into negative territory in the coming months.

In particular, chapter 10 of the Producer Price Index Manual, on the Treatment of Specific Products , included accounts relating to service industries based on papers issued by the Group.

Executive Producer TAKESHI YAMAMOTO

Producer Masaichi Nagata Planning

The producer takes them.

The producer price index (PPI) has been in negative territory for 39 consecutive months, since February 2012. The growth of China s consumer price index (CPI), though still positive, has also been falling steadily, from 6.5 in July 2011 to 1.2 in May.

Modern central banking has worked wonders to bring down inflation. Ultimately, however, a central bank s anti inflation policies can work only within the context of a macroeconomic and political framework that is consistent with price stability.

First, it was decided to keep what had worked well in the past, for example, the mini presentations and main paper format used in the sessions on producer price indices.

Text for PDF Producer field

That's Max Fabian, the producer.

For inflation, the same is applied for updating previous assumptions based on the actual monthly consumer price indexes prevailing in the country of operation.

The Fed decided to define price stability as a two percent annual inflation over the medium term of the price index of consumer expenditures. For the past 12 months, that rate of increase has been about 1.5 .

Unsurprisingly, this has exacerbated the fear of deflation, with the consumer price index (CPI) rising by just 0.8 year on year in January, and the annual decline in producer prices steepening, to 4.3 . While these trends are undoubtedly being amplified by plummeting world oil prices, China's core CPI inflation rate (which excludes volatile food and energy prices) was near 1 in January.

Here, the Fed is making a fatal mistake, as it relies heavily on a timeworn inflation forecasting methodology that filters out the special factors driving the often volatile prices of goods like food and energy. The logic is that the price fluctuations will eventually subside, and headline price indicators will converge on the core rate of inflation.

Executive Producer Frantisek Horky Morltz Grunhut

The producer has insisted so much.

Your producer had a great idea.

But Prokosch isn't a real producer.

Some policymakers have concluded from Phelps analysis that the unemployment rate cannot be lowered permanently without ever increasing levels of inflation. Thus, monetary authorities should simply focus on price stability by targeting the rate of unemployment at which inflation does not increase, referred to as the non accelerating inflation rate of unemployment (NAIRU).

The FN secretary general, Guillaume Soro, promised in February 2005 to maintain order in the sector, to enforce the official producer price for top grade cotton and to prevent diversion to neighbouring countries.

First, it contributes to yen depreciation and dollar appreciation as carry traders switch out of yen. Second, it increases global asset demand, generating asset price inflation.

Moreover, energy and food price shocks can be both large and largely unpredictable, while the speed of price changes tends to increase with big shocks. Most forecasting models used by central banks therefore put a large weight on recent inflation.