FBoS Release No: 91, 2016
29th December 2016
The experimental Producer Price Index (Services) measures changes in the average prices received by domestic service producers for a selected range of services. The main uses of the Index are:
- to remove the effect of price changes in our Gross Domestic Product (GDP) estimates at Constant Prices;
- to provide an indicator of business inflation; and
- an indicator of the business cycles.
The Fiji Standard Industrial Classification (FSIC) 2010 has been used for classifying industries and services.
Since the index for Producer Prices for Water Transport is being released for the first time, it is anticipated to engage users in the ongoing development of the methodology. This release will be combined with the producer price index for land transport services and published henceforth on an experimental quarterly basis.
The 2011 Water transport index stood at 100.0. It increased to 103.0 (3.0%) in 2012, 105.9 (2.8%) in 2013 and 108.2 (2.2%) in 2014, however, it declined to 107.4 (0.7%) in 2015. The index remained 107.4 in 2016.
The price changes in the producer price index of water transport was due to a combination of factors which include; price reviews, customer demand, fuel prices and other operational costs such as repairs and maintenance.
Appendix I: Technical notes; and
Appendix II: Steps involved in deriving the sample.