Jardine Cycle & Carriage : Import Price Index (MPI) in Industry (2015=100.0), November 2019

HELLENIC REPUBLIC

HELLENIC STATISTICAL AUTHORITY

Piraeus, 14 January 2020

PRESS RELEASE

IMPORT PRICE INDEX IN INDUSTRY: November 2019, y-o-y increase of 4.0%

The Overall Import Price Index (MPI) in Industry with base year 2015=100.0 in November 2019 recorded an increase of 4.0% compared with November 2018. The corresponding index in November 2018 had recorded an increase of 3.3% compared with November 2017 (Table 1.Ι).

The Overall Index in November 2019 recorded an increase of 0.8% compared with October 2019. The corresponding index in November 2018 had recorded a decrease of 3.2% compared with October 2018 (Table 1.ΙI).

The twelve-month average Overall Index from December 2018 to November 2019, increased by 2.0% in comparison with the corresponding index of the period from December 2017 to November 2018, while the increase recorded between the previous twelve-month periods amounted to 7.1% (Table 4).

The time series of MPI are available on the website of ELSTAT, at:

http://www.statistics.gr/en/statistics/-/publication/DKT18/-

						Evolution of annual rates of change (%) of
						Import Price Index (MPI) in Industry (2015=100.0)
30
25
20
15
10
5
0
-5
-10
-15
11	12	1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11
2017						2018											2019
				Overall Market					Eurozone Market				Non Eurozone Market

Information for methodological issues:	Information for data provision:
Division of Business Statistics	Tel: [phone], 2308, 2310
Section of Manufacture - Construction Indices and Industrial Products	E-mail: [e-mail]
Head of the Section: Aikaterini Diamantaki
Tel: [phone]
Fax: [phone]
E-mail: [e-mail]

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1. Annual rates of change: November 2019 compared with November 2018

The increase of 4.0% in the Overall Import Price Index in Industry in November 2019 compared with November 2018 is on account of the yearly changes of the sub-indices of the markets as follows:

a. 1.2% increase in the MPI of the Eurozone Market (Table 2.Ι).

b. 4.0% increase in the MPI of the Non-Eurozone Market (Table 3.Ι).

More specifically, the aforementioned increase was the result of the yearly changes mainly of the sub-indices in the following NACE Rev.2 divisions:

Code	Division	Rates of
change (%)
06	Extraction of crude petroleum and natural gas	6.7
35	Electricity, gas, steam and air conditioning supply	3.9
25	Manufacture of fabricated metal products except machinery and equipment	1.3
10	Manufacture of food products	1.0
14	Manufacure of wearing apparel	1.0
32	Other manufacturing	0.7
19	Manufacture of coke and refined petroleum products	0.6
26	Manufacture of computer, electronic and optical products	-0.5
21	Manufacture of basic pharmaceutical products and pharmaceutical preparations	-0.5
20	Manufacture of chemicals and chemical products	-1.3
17	Manufacture of paper-pulp, paper and paper products	-2.4
24	Manufacture of basic metals	-3.2

2. Monthly rates of change: November 2019 compared with October 2019

The increase of 0.8% in the Overall Import Price Index in Industry in November 2019 compared with October 2019 is on account of the monthly changes of the sub-indices of the markets as follows:

a. 0.1% increase in the MPI of the Eurozone Market (Table 2.ΙI).

b. 1.2% increase in the MPI of the Non-Eurozone Market (Table 3.ΙI).

More specifically, the aforementioned increase was the result of the monthly changes mainly of the sub-indices in the following NACE Rev.2 divisions:

Code	Division	Rates of
change (%)
06	Extraction of crude petroleum and natural gas	2.7
19	Manufacture of coke and refined petroleum products	0.7
10	Manufacture of food products	0.6
13	Manufacure of textiles	0.1
20	Manufacture of chemicals and chemical products	0.1
27	Manufacture of electrical equipment	0.1
15	Manufacture of leather and leather products	-0.1
31	Manufacture of furniture	-0.2
17	Manufacture of paper-pulp, paper and paper products	-0.2
12	Manufacure of tobacco products	-0.9
35	Electricity, gas, steam and air conditioning supply	-4.1

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Table 1. Import Price Index (MPI) in Industry: Overall Market

						Base year: 2015=100.0
Ι. Annual changes
	Main Industrial	Weighting		November		Rates of change (%)
Codes
Groups - MIGs	coefficient (%)
	2019	2018	2017	2019/2018	2018/2017
20	Overall Market	100.00	113.57	109.16	105.70	4.0	3.3
40	Intermediate Goods	24.60	100.41	101.40	100.55	-1.0	0.8
50	Capital Goods	15.33	100.66	100.81	100.72	-0.1	0.1
60	Durable Consumer Goods	3.09	99.41	100.34	99.59	-0.9	0.8
70	Non-Durable Consumer Goods	27.64	99.59	99.14	99.64	0.5	-0.5
90	Energy	29.34	146.01	139.39	124.64	4.7	11.8

ΙΙ. Monthly changes

	Main Industrial	Weighting	November	October	Rates of	November	October	Rates of
Codes
Groups - MIGs	coefficient (%)			change (%)			change (%)
	2019	2019	2018	2018
20	Overall Market	100.00	113.57	112.67	0.8	109.16	112.76	-3.2
40	Intermediate	24.60	100.41	100.40	0.0	101.40	101.62	-0.2
Goods
50	Capital Goods	15.33	100.66	100.66	0.0	100.81	100.80	0.0
60	Durable Consumer	3.09	99.41	99.46	-0.1	100.34	100.34	0.0
Goods
70	Non-Durable	27.64	99.59	99.36	0.2	99.14	99.05	0.1
Consumer Goods
90	Energy	29.34	146.01	143.17	2.0	139.39	155.23	-10.2

Note: The indices are rounded up to two decimal digits when published and percantage changes up to one decimal digit when published.

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Table 2. Import Price Index (MPI) in Industry: Eurozone Market

						Base year: 2015=100.0
Ι. Annual changes
	Main Industrial	Weighting		November		Rates of change (%)
Codes
Groups - MIGs	coefficient (%)
	2019	2018	2017	2019/2018	2018/2017
20	Overall Market	41.71	101.84	100.60	100.51	1.2	0.1
40	Intermediate Goods	12.14	100.71	101.28	100.57	-0.6	0.7
50	Capital Goods	8.73	101.41	100.99	100.91	0.4	0.1
60	Durable Consumer Goods	1.50	101.43	101.17	99.92	0.3	1.2
70	Non-Durable Consumer Goods	17.68	100.00	98.86	99.85	1.2	-1.0
90	Energy	1.66	132.26	123.40	112.49	7.2	9.7

ΙΙ. Monthly changes

	Main Industrial	Weighting	November	October	Rates of	November	October	Rates of
Codes
Groups - MIGs	coefficient (%)			change (%)			change (%)
	2019	2019	2018	2018
20	Overall Market	41.71	101.84	101.74	0.1	100.60	100.82	-0.2
40	Intermediate	12.14	100.71	100.71	0.0	101.28	101.52	-0.2
Goods
50	Capital Goods	8.73	101.41	101.41	0.0	100.99	101.00	0.0
60	Durable Consumer	1.50	101.43	101.43	0.0	101.17	101.17	0.0
Goods
70	Non-Durable	17.68	100.00	99.66	0.3	98.86	98.68	0.2
Consumer Goods
90	Energy	1.66	132.26	133.40	-0.9	123.40	138.17	-10.7

Note: The indices are rounded up to two decimal digits when published and percantage changes up to one decimal digit when published.

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Table 3. Import Price Index (MPI) in Industry: Non Eurozone Market

						Base year: 2015=100.0
Ι. Annual changes
	Main Industrial	Weighting		November		Rates of change (%)
Codes
Groups - MIGs	coefficient (%)
	2019	2018	2017	2019/2018	2018/2017
20	Overall Market	58.29	121.97	117.30	110.64	4.0	6.0
40	Intermediate Goods	12.46	100.12	101.57	100.52	-1.4	1.0
50	Capital Goods	6.60	99.66	100.45	100.35	-0.8	0.1
60	Durable Consumer Goods	1.59	97.49	99.13	99.11	-1.7	0.0
70	Non-Durable Consumer Goods	9.96	98.86	99.64	99.26	-0.8	0.4
90	Energy	27.68	146.84	139.93	125.05	4.9	11.9

ΙΙ. Monthly changes

	Main Industrial	Weighting	November	October	Rates of	November	October	Rates of
Codes
Groups - MIGs	coefficient (%)			change (%)			change (%)
	2019	2019	2018	2018
20	Overall Market	58.29	121.97	120.50	1.2	117.30	124.12	-5.5
40	Intermediate	12.46	100.12	100.10	0.0	101.57	101.77	-0.2
Goods
50	Capital Goods	6.60	99.66	99.66	0.0	100.45	100.42	0.0
60	Durable Consumer	1.59	97.49	97.59	-0.1	99.13	99.13	0.0
Goods
70	Non-Durable	9.96	98.86	98.83	0.0	99.64	99.73	-0.1
Consumer Goods
90	Energy	27.68	146.84	143.75	2.1	139.93	155.80	-10.2

Note: The indices are rounded up to two decimal digits when published and percantage changes up to one decimal digit when published.

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Table 4. Changes of Import Price Index (MPI) in Industry

Base year: 2015=100.0

			Monthly rates of	Annual rates of	12-month average	Annual rates of
Year and month	Overall Index	index (moving	change (%) of 12-
change (%)	change (%)
			average)	month average index
2017 :	1	103.70	1.1	12.1	98.17	-1.3
	2	103.40	-0.3	11.4	99.05	0.4
	3	102.21	-1.1	8.6	99.73	1.8
	4	102.15	-0.1	7.2	100.30	3.1
	5	101.03	-1.1	4.0	100.63	4.1
	6	100.05	-1.0	1.9	100.78	4.7
	7	101.44	1.4	4.2	101.12	5.3
	8	101.44	0.0	3.8	101.43	5.7
	9	102.99	1.5	4.1	101.76	5.9
	10	104.23	1.2	3.9	102.09	6.0
	11	105.70	1.4	5.8	102.58	6.3
	12	106.77	1.0	4.1	102.93	5.9
Annual average	102.93
2018 :	1	108.23	1.4	4.4	103.30	5.2
	2	106.53	-1.6	3.0	103.56	4.6
	3	107.59	1.0	5.3	104.01	4.3
	4	109.29	1.6	7.0	104.61	4.3
	5	111.02	1.6	9.9	105.44	4.8
	6	111.69	0.6	11.6	106.41	5.6
	7	111.24	-0.4	9.7	107.23	6.0
	8	111.61	0.3	10.0	108.07	6.6
	9	112.86	1.1	9.6	108.90	7.0
	10	112.76	-0.1	8.2	109.61	7.4
	11	109.16	-3.2	3.3	109.89	7.1
	12	105.21	-3.6	-1.5	109.76	6.6
Annual average	109.76
2019 :	1	107.43	2.1	-0.7	109.70	6.2
	2	109.65	2.1	2.9	109.96	6.2
	3	114.55	4.5	6.5	110.54	6.3
	4	116.46	1.7	6.6	111.14	6.2
	5	113.09	-2.9	1.9	111.31	5.6
	6	113.30	0.2	1.4	111.44	4.7
	7	114.66	1.2	3.1	111.73	4.2
	8	111.66	-2.6	0.0	111.73	3.4
	9	112.45	0.7	-0.4	111.70	2.6
	10	112.67	0.2	-0.1	111.69	1.9
	11	113.57	0.8	4.0	112.06	2.0

Note: The indices are rounded up to two decimal digits when published and percantage changes up to one decimal digit when published.

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	METHODOLOGICAL NOTES
Generally	The Import Price Index (MPI) in Industry, in its current form, has been compiled since January 2005,
	when it replaced the Final Products Wholesale Price Index with foreign final products from abroad. The
	Import Price Index (MPI) in Industry was recently revised with base year 2015=100.0 and the previous
	time series were adjusted accordingly.
Purpose of the index	The purpose of the Import Price Index (MPI) in Industry is to measure the monthly rates of change of
	the prices of imported products in the sectors of mining, manufacturing and energy that are imported
	from abroad and are transferred, through their purchase, to resident units-enterprises irrespective of
	their branch of economic activity.
Definitions	The Import Price Index is a monthly index and it is composed by the sub-indices of the import prices of
	the two market zones: the euro-zone and the non-euro-zone countries depending on the country of
	origin of imports.
	The collected values of imported products are CIF (Cost Insurance Freight) prices at the Greek border,
	free of all taxes and duties payable by the import enterprises. This means that they include the product
	transport (freight) and insurance costs incurred by the enterprise for their importation.
	The selected price data for the compilation of the MPI are collected from units-enterprises that import
	the goods that have been selected at the initial stage. The prices refer mainly to the transactions
	between the resident enterprises that import products and the enterprises established abroad which
	act as exporters of products to Greece.
Legal framework	The compilation of ΜPI is governed by Council Regulation (EC) 1165/98 "concerning short-term
	statistics" and by the Regulation 1158/05 (amending the above mentioned Regulation) of the European
	Parliament and of the Council. Furthermore, the ΜPI is governed by Regulation (EC) 1893/2006 of the
	European Parliament and of the Council, by Commission Regulation (EC) 656/2007 and the Regulation
	(EC) 451/2008 of the Council.
Reference period	Month.
Base year	2015=100.0.
Revision	The ΜPI is a fixed base index. The index was revised with the new base year 2015 = 100.0 by virtue of
	Council Regulation (EC) 1165/98, according to which the short-term statistics indices are revised every
	five (5) years and more specifically with base years ending in 0 or 5.
Statistical classifications	At the level of branches of economic activities the statistical classification of economic activities NACE
	Rev.2 of EU is used (Regulation 1893/2006), while at the level of main industrial groups, the allocation
	of two-digit and three-digit NACE Rev.2 headings to categories of aggregate classification is used, in
	accordance with Commission Regulation 656/2007. At product level, the statistical classification CPA
	2008 of EU is used, according to the Council Regulation 451/2008.
Geographical coverage	The index covers the whole of the country, with data from Attiki and other 31 Regional Units of the
	country.
Coverage of economic	The index covers the sections of mining-quarrying manufacturing, electricity and natural gas, the main
activities	industrial groups, and all the levels of economic activities (divisions, groups, classes) and the level of
	imported products.
Statistical survey	The data are collected from approximately 880 enterprises and the total number of observations
	(prices) is approximately 2,540. More specifically, the following items are surveyed: 297 product codes,
	derived from euro-zone countries and 260 product codes that originate from non-euro-zone countries.
Publication of data	The MPI with the new base year 2015=100.0 is released since July 2019, with May 2019 as the first
	reference month. Data with base year 2015=100.0 are available from 2000 onwards.
References	More information on the methodology concerning the compilation and calculation of the index, as well
	as the time series is available on the website of ELSTAT at the following link:
	http://www.statistics.gr/en/statistics/-/publication/DKT18/-

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