PPI / IPI
The Producer Price Index (PPI) and Industrial Production Index (IPI) are compiled on a monthly basis. The PPI measures changes in the price of products produced by the Seychelles manufacturing industry whereas the IPI measures changes in the volumes of goods produced by manufacturers over time.
As from June 2023, a new PPI series was introduced. This new series is computed based on an updated establishment and product list of manufacturing services. The weights used in the calculation of the index have been updated, using data from the 2019 business tax returns. The new index compilation system allows for continuous changes in the sample. The weights can also easily be updated, and NBS aims to update them annually.
The new reference period for PPI indices is 2022=100. The PPI measures price movements and not actual price levels. It is important to note that the PPI measures price change from the producer perspective and not from the household perspective (which is measured in the Consumer Price Index).
An important use of the PPI is as a deflator for National Accounts to produce GDP in volume measures. The IPI is also used as a key input for calculating volume measures as part of the compilation of the quarterly National Accounts.
The commodities in the basket for both indices are classified according to the UN ISIC (International Standard Industrial Classification) Rev 4. Currently, the index coverage is limited to Section C Manufacturing (and includes only those Divisions for which there is manufacturing activity in the Seychelles), Section D Electricity and Section E Water Supply.
Click here to access the latest PPI releases.
Click here to access the latest IPI releases.