|Unit||Index Dec2014=100, NSA|
|Adjustments||Not Seasonally Adjusted|
|Source||National Administrative Department of Statistic (DANE) - Colombia|
|Release||Índice de Precios del Productor (IPP)|
It is the short-term indicator on the prices of goods in the first distribution channel, ie producer prices.
Reports the average change in prices of a basket of goods produced in the country for domestic consumption and for export, including primary and secondary sector. It contains services sector.
In 2015, DANE redesigned Colombia's Producer Price Index and gave it a base year of 2014 = 100 (previous base year 1999 = 100). The redesign allows for a constant updating of baskets and fixed weights, the inclusion of the calculation of weights on a flexible level, improvements in the imputation methods, update of CPC to version 2 and ISIC nomenclatures to 4 AC version and indexing of weights.
The series begins in January of 1995 and it is not seasonally adjusted.
Sampling and Analysis:
The Producer Price Index uses a deterministic sample, where the units are production companies or commercial establishments that are selected according to the products they produce or market, and the ability to provide clear information in a timely manner.
The sample consists of approximately 3,200 companies on average. The collection period exists between the 15th and 28th of each month. Data is collected through the DANE website, wherein the source enters the requested information on a monthly basis. This reduces response times and operational costs.
The prices used are those that exist in the moment of the first exchange of property in the production chain.
Producer Price Index (PPI): This index measures the average monthly change in prices of a basket of representative goods of domestic production.
Basket: A representative set of goods and services whose prices are monitored.
Index Number: Number showing, by its variations, changes over time or a magnitude of space. The most important features of the construction of index numbers are coverage base period, weighting system, and method for averaging observations.
Variation: Percentage change calculated for a variable in a given period relative to another.
Reference period: Specific time period (day, week, month, year) or point in time corresponding to the observation, or the variable of interest.
We seasonally adjust the fixed-base general index using the U.S. Census Bureau's X-13 ARIMA program.
Data is revised on a monthly basis.