Producer Price Index Manual: Theory and Practice ... - METAC

Producer Price Index Manual
Table 9.1. Calculation of Price Indices for an Elementary Aggregate a
January February March April May June July
Prices
Product A 6.00 6.00 7.00 6.00 6.00 6.00 6.60
Product B 7.00 7.00 6.00 7.00 7.00 7.20 7.70
Product C 2.00 3.00 4.00 5.00 2.00 3.00 2.20
Product D 5.00 5.00 5.00 4.00 5.00 5.00 5.50
Arithmetic mean prices 5.00 5.25 5.50 5.50 5.00 5.30 5.50
Geometric mean prices 4.53 5.01 5.38 5.38 4.53 5.05 4.98
Month-to-month price relatives
Product A 1.00 1.00 1.17 0.86 1.00 1.00 1.10
Product B 1.00 1.00 0.86 1.17 1.00 1.03 1.07
Product C 1.00 1.50 1.33 1.25 0.40 1.50 0.73
Product D 1.00 1.00 1.00 0.80 1.25 1.00 1.10
Current to reference month (January) price relatives
Product A 1.00 1.00 1.17 1.00 1.00 1.00 1.10
Product B 1.00 1.00 0.86 1.00 1.00 1.03 1.10
Product C 1.00 1.50 2.00 2.50 1.00 1.50 1.10
Product D 1.00 1.00 1.00 0.80 1.00 1.00 1.10
Carli index—Arithmetic mean of price relatives
Month-to-month index 100.00 112.50 108.93 101.85 91.25 113.21 100.07
Chained month-tomonth
index 100.00 112.50 122.54 124.81 113.89 128.93 129.02
Direct index on January 100.00 112.50 125.60 132.50 100.00 113.21 110.00
Dutot index—Ratio of arithmetic mean prices
Month-to-month index 100.00 105.00 104.76 100.00 90.91 106.00 103.77
Chained month-tomonth
index 100.00 105.00 110.00 110.00 100.00 106.00 110.00
Direct index on January 100.00 105.00 110.00 110.00 100.00 106.00 110.00
Jevons index—Geometric mean of price relatives or ratio of geometric mean prices
Month-to-month index 100.00 110.67 107.46 100.00 84.09 111.45 98.70
Chained month-tomonth
index 100.00 110.67 118.92 118.92 100.00 111.45 110.00
Direct index on January 100.00 110.67 118.92 118.92 100.00 111.45 110.00
a All price indices have been calculated using unrounded figures.
(9.1)
I
0: t
C
t
1 ⎛ p ⎞
i
= ∑ ⎜ 0 ⎟
n ⎝ pi
⎠
• The second is the Dutot index, which is defined
as the ratio of the unweighted arithmetic mean
prices.
216