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

Producer Price Index Manual
368
Table 14.16. (continued)
1993 SNA Source Account Price Index Derivation from Other Price Indices
Valuation and Needed Detail
SNA Transaction
1993 SNA Aggregate 1993
Codes
Export Price Index (XPI)
External transactions in goods
and services account with product
detail, Total economy (S.1)
Exports P.6 Purchasers’ prices (fob
domestic frontier), by
product
FPI = f ( HPI , GPI , KPI , NPI , VPI , XPI , w )
Final Uses Price Index
(FPI)
Supply and Use Table, total economy
(S.1)
Total final uses P.3 + P.5 + P.6 Purchasers’ prices, by product
where
1 and
w=
[ wG, wK, wN, wV,
wX]
,
P.32
P.3 + P.4 + P.5 + P.6
w
G
=
,
P.51
P.3 + P.4 + P.5 + P.6
w
K
=
,
P.32
P.3 + P.4 + P.5 + P.6
w
G
=
.
P.53
P.3 + P.4 + P.5 + P.6
w
V
=
P.6
P.3 + P.4 + P.5 + P.6
w
X
=
Gross Domestic Product
Value-added deflator Value-added deflator = ( )
, ; I
f SPI IPI w
Supply and Use Table, total economy
(S.1)
By industry, product and institutional
sector, with industry
and total value-added
price indices adjusted by a
markup factor for taxes net
of subsidies on products.
V = P.1 – P.2 +D.21 –
D.31
Value added (Net output
PPI)
where
− P.7
GDP
=
w M
− P.2
2
=
GDP
w I
Net output PPI may exclude
from intermediate consumption
products, particularly
services, on which there
may be no price information.
1 Unlike the other aggregations of indices that involve the combination of two component indices, it is shown that the FPI is a simultaneous aggregation of six price indices for the components
of final uses. Again, f can be any of the indices introduced in this chapter, and with the weight of the first item (here of Individual consumption (P.31) determined as one minus the
rest of the weights, and the price relatives given by the list of index arguments.
2 The negative weights of the second index arguments of both of these formulae for GDP is an indication that they represent a double deflation-type price index. See 1993 SNA, Chapter
XVI, Section E.