Release Schedule for the 2011 base Input-Output Price Index of the Manufacturing Industry by Sector (IOPI)

May 30, 2016
Bank of Japan
Research and Statistics Department

The Input-Output Price Index of the Manufacturing Industry by Sector (IOPI) will be revised from the base year 2005 to 2011 and will be released as follows:
The Bank will discontinue release of the 2005-based IOPI from now on. The retroactive figures of the 2011-based IOPI -- covering the period from January 2011 to December 2015 -- will be released on June 17, followed by the monthly figures of the 2011-based IOPI on June 28.

Highlights of the revision are as follows:

1. Revision of the base year from 2005 to 2011

The base year for both indexes and weight calculation will be revised from 2005 to 2011 to conform to the revision of the Input-Output Tables (I-O Tables) published by the Ministry of Internal Affairs and Communications.

2. Restructuring of the classification

To conform to the changes in the classification of the I-O Tables, the number of categories titled "Major sector" in the 2011-based IOPI will be increased from 16 to 18.
"General-purpose machinery," "Production machinery," and "Business oriented machinery" will be added in the 2011-based IOPI by rearranging "General machinery" and "Precision instruments." "Plastic and rubber products" -- formerly included in "Miscellaneous manufacturing products" -- will be shown separately as a single category.

3. Improvement in the statistical accuracy

The IOPI has been compiled by using price data of the "Corporate Goods Price Index (CGPI)" and "Services Producer Price Index (SPPI)." To reflect the latest revision of the CGPI and SPPI, the 2011-based IOPI will be expanded to include the new indexes of the CGPI and SPPI, such as "Steelworks," "Bridges," and "Steam & gas turbines." As a result, the statistical accuracy will be improved with the inclusion of more relevant price data.

Inquiries

Price Statistics Division, Research and Statistics Department

E-mail : post.rsd3@boj.or.jp