Producer and Import Price Index for Commodities

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Prices and Consumption, Economic Statistics
Nicklas Elversøe
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Producer and Import Price Index for Commodities 2024

The statistics Producer and Import Price Index for Commodities show the price development of commodities in the first stage of transaction. The primary use is as deflators (converting nominal values to real values), but is also used as a business cycle indicator and for contract adjustments in the business sector. The index can be divided into Producer price index for commodities, Import price index for commodities and Price index for domestic commodities supply. The Price index for domestic supply of commodities can be traced back to 1876 and in the current form back to 1981. Producer Price Index for Commodities dates back to 2000 and Import Price Index for Commodities to 2005.

Statistical presentation

The Producer and Import Price Index for Commodities contains monthly indices of the price development of commodities in the first stage of turnover (business-to-business), i.e. typically sales from producer to wholesaler or retailer, for commodities produced by Denmark for the domestic market and export, or for commodities imported into Denmark. The statistics are divided by product and industry groups.

Statistical processing

Approximately 6800 prices from selected producers and importers in Denmark. Of these, approximately 3600 price reports for calculation of Producer Price Index for Commodities, approximately 3200 for calculation of Import Price Index for Commodities and approximately 5200 price reports are used to calculate the Price Index for Domestic Supply. The prices are validated automatically in connection with the collection. Unusually large price developments are subsequently checked manually. The validated price developments are then aggregated in a hierarchical system, where they are given weight according to their significance to the overall price index.

Relevance

The Producer and Import price index for commodities serves as economic key figures, cyclical indicator, deflator and a contract regulations tool. The primary users of the statistics are the Danish National Accounts, business and stakeholders in the Danish economy. The statistics meet all the requirements of the EU in terms of industry coverage, aggregation level, frequency and publication date, etc.

Accuracy and reliability

The prices covered by the data collection have a direct coverage of approximately 70 percent of total revenue in the Danish economy. Weights are based on the National Accounts product balances, which covers the main part of trading in the first stage of sales within the delimitation of the statistics. Sample units are selected on a purposive basis using a top-down approach. As a random sampling method is not being utilised a subsequent assessment of sampling error is not enabled.

Published statistics are considered final.

Producer and import price index for commodities are not considered to have an increased uncertainty due to COVID-19. Data collection has been largely not impacted as a result of the crisis and subsequent non-response levels have remained at their historically low levels.

Timeliness and punctuality

The statistics are published on a monthly basis. The statistics for a given month are published on the 15th of the following month or the first business day thereafter. The statistics are usually published without delay in relation to the scheduled date.

Comparability

Statistics Denmark has calculated variations of this statistic since 1876. The Producer and import price index for commodities can be found as an unbroken monthly time series from 2005 to today. The statistics have been prepared according to international standards and can therefore be compared to similar statistics from other European countries.

Accessibility and clarity

The statistics are published monthly by Statistics Denmark via press release "Nyt fra Danmarks Statistik" (in Danish only) and specifically regard Producer and Import Price Index for Commodities.

In the StatBank, the statistics are published under the topic Producer and Import Price Index for Commodities.

For more information visit the subject page on Business Prices.