Palestinian Central Bureau of Statistics (PCBS)

Palestinian Producer Price Index, October, 10/2023

Decrease in the Producer Price¹ Index (PPI) during October 2023

The overall Producer Price Index (PPI) for Palestine with its base year (2019 = 100) reached 115.57 in October 2023, as it decreased by 0.13% compared to September 2023.

PPI for locally consumed products during October 2023

Producer Price Index for locally consumed products (2019 = 100) reached 116.16 in October 2023, which indicates a decrease of 0.14% compared to September 2023.

PPI for local exported products during October 2023

Producer Price Index for local exported products (2019 = 100) reached 110.09 in October 2023, which indicates a decrease of 0.10% compared to September 2023.

The changes of PPI for October 2023 were traced back to changes in prices of the following major activities compared to the previous month:

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1 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.

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, and for the first visit of October 2023 for Gaza Strip, while data for the second and third visits were estimated.

2.    The process of collecting data on industrial goods for the West Bank sample of industrial establishments was complete for October 2023, 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.