FBoS Release No: 12, 2017
30th March 2017
The Producer Price Index (PPI) Services reported in this release covers land and water transportation services, as we progress our development of the index.
The 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:
- as deflators to remove the effect of price changes in our Current Price Gross Domestic Product (GDP) estimates;
- to provide an indicator of business inflation; and
- as an indicator of the business cycles.
The Fiji Standard Industrial Classification (FSIC) 2010 has been used for classifying industries and services.
December Quarter Highlights
The Land and Water transport index for the December quarter of 2016 has increased slightly by 1.0 percentage points when compared to the same period in 2015.
However, when compared to the September quarter of 2016, the Land and Water transport index showed no change.
Contributing to the corresponding quarter increase were higher prices recorded for water transport and freight transport by road.
Annual 2016 Highlights
The annual Land and Water transport index for 2016 stands at 109.4, representing a slight increase of 0.2 percentage points over the annual 2015 index. Following are the detailed highlights:
The annual 2016 PPI for land transport stands at 110.3, a slight increase of 0.3 per cent over the annual 2015 PPI of 110.0.
The increase in the land transport index was due to higher prices recorded for freight transport by road as a result of an increase in operational costs.
The annual 2016 PPI for water transport stands at 107.4, which is unchanged over the annual 2015 PPI.