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Home > Statistics > Outline of Statistics and Statistical Release Schedule > Notices of Changes and Corrections 1997 > Revision to 1995 base for Wholesale Price Indexes (WPI)
Dec. 12, 1997
Bank of Japan
Research and Statistics Department
In Wholesale Price Indexes, the base year for both indexes and weight calculation has been updated from 1990 to 1995 to reflect the structural changes of the Japanese economy and trade. Selected commodities have also been revised to enhance the accuracy of the indexes.
In March 1981, the Statistics Council recommended that the statistics of economic indexes, in principle, should be revised of the base year for both indexes and weight calculation every 5 years .
The Base year for both indexes and weight calculation has been updated from 1990 to 1995.
Revision of the base year for indexes: 1990 average = 100 1995 average = 100
Revision of the base year for weight calculation: calculation of weights based on the transaction value of 1995.
The selected commodities have increased by 114 from the previous base. The total number of selected commodities amounts to 1,427.
|Domestic Wholesale Price Index||971||945||+26||+54||-25||-15||+12|
|Export Price Index||209||184||+25||+52||-17||-12||+2|
|Import Price Index||247||184||+63||+67||-6||0||+2|
|Overall Wholesale Price Index||1,427||1,313||+114||+173||-48||-27||+16|
|(previous revision)||(1,313)||(1,253)||(+ 60)||(+175)||(-122)||(- 8)||(+ 15)|
Major points in revision of selected commodities are as follows:
Principal examples of changes in selected commodities are as follows:
The weights of Domestic Wholesale Price Index to Overall Wholesale Price Index have decreased. On the other hand, those of Export and Import Price Index have increased.
With respect to the changes in weights of each index, the weights of "Transportation equipment" have decreased in Export Price Index, because the domestic manufacturing center has shifted overseas. In Import Price Index, the weights of "Petroleum, coal & natural gas" have largely decreased reflecting the appreciation of yen and the price decline in the market. On the other hand, the weights of both "Electrical machinery" in Export Price Index, and "Machinery & equipment" in Import Price Index have increased.
|Weights to Overall Wholesale Price Index (in permillage terms)||Principal Groups of Significant Change
|(A)-(B)||Increased Group||Decreased Group|
|Domestic Wholesale Price Index||792.86||796.76||-3.90||-Processed foodstuffs
-Electric power, gas & water
|-Iron & steel
|Export Price Index||119.35||116.90||+2.45||-Electrical machinery
|Import Price Index||87.79||86.34||+1.45||-Machinery & equipment
-Other primary products & manufactured goods
|-Petroleum, coal & natural gas
-Metals & related products
|Overall Wholesale Price Index||1,000.00||1,000.00||0|
Abolition of "Index for Special Grouping by Industry" in Export and Import Price Indexes
The publication of "Index for Special Grouping by Industry" in Export and Import Price Indexes has been discontinued in "Price Indexes Monthly Report" and "Price Indexes Annual Report" since the previous (1990 base) index revision, owing to the decline in needs for analyses. The index was abolished in this 1995 base index revision, because there had not been so much requests for its publication and the continuation of index compilation.
The index can be calculated by rearranging the basic grouping.
Change in the name of group
The name of "Metals" as "group" in Import Price Index has been changed to "Metals & related products" corresponding to the establishment of "Metal products" as "commodity class" and "subgroup" for newly selected commodities (Bolts & nuts, Fixture for fittings, Hand tools, Metal pipe & tube fittings).
As in the case of the previous base index, the following 2 index series are calculated.
Publication of the 1995 base index will start from the index for the first ten days of December 1997; the 1990 base index is available until November 1997.