Palestinian Producer Price Index

Palestinian Producer Price Index

Sharply Increase in the Producer Price Index (PPI) during September 2024

The overall Producer Price Index (PPI) for Palestine with its base year (2019 = 100) reached 173.05 in September 2024, as it sharply increased by 15.67% compared to August 2024.

PPI for locally consumed products during September 2024

Producer Price Index for locally consumed products (2019 = 100) reached 178.62 in September 2024, which indicates a sharp increase of 16.42% compared to August 2024.

PPI for local exported products during September 2024

Producer Price Index for local exported products (2019 = 100) reached 121.00 in September 2024, which indicates a sharp increase of 6.29% compared to August 2024.

The changes of PPI for September 2024 were traced back to changes in prices of the following major activities compared to the previous month:

 

Notice for Users:

1. The data collection process for agricultural commodities, which was collected in the same reference month, was complete for the West Bank. Due to the Israeli occupation aggression against Gaza Strip since October 7th, 2023, the data for September 2024, were collected through direct phone contact with PCBS fieldworkers working in Gaza Strip focusing on high relative importance within the main major groups in the producer price index.
2. The process of collecting data on industrial goods for the West Bank sample of industrial establishments was complete for September 2024, while in Gaza Strip; the data of all industrial establishments was estimated due to the accelerated Israeli escalation witnessed in Gaza Strip on October 7 during 2023 against all aspects of society.
3. International recommendations were followed in estimating the missing data, which are mentioned in Price Index guide. Moreover, the (Group Relative Method) is one of the best methods used to estimate the missing data, which is the process of estimating the prices based on the change in the prices of the remaining sources for the same category. Accordingly, in case of the closure of an entire source on a temporary basis, all the prices of that source are estimated based on the change in the prices of the sources that share the same items, which are collected from that source.
4. The estimate is also used at the (Next Level Up in Aggregation) in case of the disappearance of the index for a whole sub-group or a higher group reaching up to the major groups that constitute the index.

The producer’s price is the amount receivable by the producer from the purchaser for a unit of a good or service produced as output minus any VAT, or similar deductible tax, invoiced to the purchaser. The producer’s prices exclude any transport charges invoiced separately by the producer.