|Unit||Index 2015=100, NSA|
|Adjustments||Not Seasonally Adjusted|
For Spain, a detailed producer price index, national and subnational.
The objective of the industrial price indices is to measure evolution, on a monthly basis, of the prices of products manufactured by industry in the first stage of their commercialisation. It involves a dynamic indicator, with emphasis placed upon the measuring of variations and not of levels.
Industrial price indices have different uses, the following ones being:
The Industrial Prices Indices are Laspeyres-type indices. These indices are suitable for managing the evolution of short-term phenomena, but have the disadvantage of losing representativity over the course of time, and base changes become necessary in order to update their structure. The changes affect the branches under investigation, the baskets of products, the weightings and the sample of informant units. Furthermore, the base change has been seized upon in order to introduce a series of quantitative and methodological improvements, which, if carried out at another time, would distort the development of the indices.
The main objective of this new design, aside from continuing to extend and improve coverage of this indicator, both for the national total and for the Autonomous Communities, has been to adapt to the current Classification of Economic Activities (CNAE-2009).
The base period for the IPRI, for which the arithmetic average of the monthly indices is equal to 100, is the year 2010.
The reference period of the prices is the period with whose prices compare with current prices, in other words, the period chosen for calculating simple indices. With the fixed-base Laspeyres formula (used in systems prior to 2010) this period coincided with the base period. Nevertheless, with the chain-linked Laspeyres calculation formula, used since base 2010 was implemented, the reference period of the prices varies each year. In the IPRI base 2010, the reference period of the prices is the month of December of the year immediately prior.
Until December 2008 the index was published with the year 2000 as the base period.
In accordance with European Union guidelines, the index was published with the new base 2005 as of January 2009.
As of February 2013 the index is published with the year 2010 as the base period.
Recent changes relate to change in the base year to 2015=100.