Electronic version of the Producer Price Index Manual. Where can I download PPIs data? When are PPIs updated? Are PPIs revised? In which currency are PPIs expressed? Top of page 2. Top of page 4. Top of page 5.
Top of page 7. Stat Extracts in three different sets with a distinction between domestic and total markets: 1. Top of page 8. Top of page 9. Annual change : Percentage change on the same period of the previous year; 3. Top of page When your design is going to be physically printed, the printer will use DPI.
Each model and style of printer produces its own unique DPI based on its settings. Inkjet printers produce a resolution around to DPI, while laser printers produce images anywhere from to 2, DPI. There is no standard dot size or shape, so higher DPI does not always equate to a higher quality print. Ask the printshop or consult the printer specifications to find the appropriate DPI for your project.
Knowing how to use PPI will empower you to produce high quality images every time. And knowing how to navigate DPI will help you to effectively communicate with printing machines and professionals in the printing industry. Unless you are a printer, your main focus will be on PPI. But it is important to understand the process of physical printing if your work requires it on a regular basis. In the end, even the best design can be ruined by a poor image resolution. Check out this article on graphic design basics for more design knowledge.
This article was originally written by Alex Bingman and published in It has been updated with new examples and information. Our newsletter is for everyone who loves design! Let us know if you're a freelance designer or not so we can share the most relevant content for you.
By completing this form, you agree to our Terms of Service and Privacy Policy. Designers, check out these contests so you can start building your career. Get a design. PPI resolution — What PPI means PPI, or pixels per inch , refers both to the fixed number of pixels that a screen can display and the density of pixels within a digital image.
Each pixel is made up of RGB subpixels. PPI, or pixel density, describes the amount of detail in an image based on the concentration of pixels. A lower PPI resolution results in less detail and a pixelated image. A higher PPI resolution results in more detail and a sharper image. Printer dots mix CMYK inks. DPI describes the amount of detail in an image based on the concentration of printer dots. As a deflator of other economic series. PPIs are used to adjust other economic time series for price changes and to translate those series into inflation-free dollars.
For example, constant-dollar gross domestic product data are estimated using deflators based on PPI data. As the basis for contract adjustment. PPI data are commonly used in adjusting purchase and sales contracts.
These contracts typically specify dollar amounts to be paid at some point in the future. It is often desirable to include an adjustment clause that accounts for changes in input prices. For example, a long-term contract for bread may be adjusted for changes in wheat prices by applying the percent change in the PPI for wheat to the contracted price for bread. At the same time, emphasis was shifted from one index encompassing the whole economy to the SOP system consisting of three main indexes covering stages of production in the economy.
By changing emphasis, BLS minimized the double counting phenomenon inherent in aggregate commodity-based indexes. The FD-ID system expands primary aggregate index coverage beyond the SOP system through the addition of prices and weights for services, construction, government purchases, and exports. The change in name from Wholesale Price Index to Producer Price Index did not include a change in index methodology, and the continuity of the price index data was unaffected.
The name change reflects the theoretical model of the output price index that underlies the PPI. No indexes were discontinued as a result of the changes in terminology or analytical emphasis.
While both the PPI and CPI measure price change over time for a fixed set of goods and services, the CPI and PPI differ for three main reasons: the composition of the set of goods and services, the types of prices collected for the included goods and services, and coverage of the services sector.
The target set of goods and services included in the PPI is the entire marketed output of U. This includes goods, services, and construction products purchased by other producers as inputs to their operations or as capital investment, goods and services purchased by consumers either directly from the service producer or indirectly from a retailer, and products sold as export and to government. The target set of items included in the CPI is the set of goods and services purchased for consumption purposes by urban U.
The target set of items differs between CPI and PPI in a number of areas: 1 the CPI includes imports, while imports are excluded from PPI; 2 owners' equivalent rent is included in CPI, but not in PPI; 3 the CPI only includes components of personal consumption that are directly paid for by the consumer, whereas the PPI includes components of personal consumption that are not paid for by the consumer for example, medical services paid for by government or insurance companies ; 4 the PPI includes exports, while the CPI does not; 5 the PPI includes government purchases, while the CPI does not; and 6 the PPI includes sales to businesses as inputs to production, including capital investment, whereas the CPI does not.
The price collected for an item included in the PPI is the revenue received by its producer. Sales and excise taxes are not included in the price because they do not represent revenue to the producer. The price collected for an item included in the CPI is the out-of-pocket expenditure by a consumer for the item. Sales and excise taxes are included in the price because they are necessary expenditures by the consumer for the item.
PPI began expanding coverage beyond mining, manufacturing, agriculture, and utilities in the mid s, introducing its first services price index in , and PPI's effort to expand coverage into the services sector of the economy is ongoing. PPI currently covers approximately 72 percent of services as measured by Census revenue. Since PPI does not have complete coverage of its targeted set of in-scope services, a number of consumer services are included in the CPI that are not included in the PPI.
Among the most important of these are education services and residential rent. The differences between the PPI and CPI except for coverage are consistent with the different uses of the two measures. A primary use of the PPI is to deflate revenue streams in order to measure real growth in output. A primary use of the CPI is to adjust income and expenditure streams for changes in the cost of living.
An index is a tool that simplifies the measurement of movements in a numerical series. Movements are measured with respect to a base period, when the index is set to BLS measures price change in relation to that figure. An index level of , for example, means there has been a percent increase in prices since the base period; similarly, an index level of 90 indicates a percent decrease in prices. Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point changes are affected by the level of the index, while percent changes are not.
An advantage of calculating percent changes is that the result will be the same no matter what base period is specified. The example below demonstrates the computation of index point and percent changes. The formula used to calculate PPIs is a modified Laspeyres index. The Laspeyres index compares the base period revenue for a set of products to the current period revenue for the same set of products. The following formula closely approximates the actual computation procedure: Where: is the price of a commodity in the base period; is the price of a commodity in the current period; and is the quantity of the commodity shipped during the base period.
In this form, the index is the weighted average of price relatives price ratios for each item. The expression represents the weights in value form. To improve the precision of PPI estimates of price change, sampled items are weighted by a measure of their size and importance.
In the first stage of PPI computation, price indexes are constructed for narrowly-defined groupings of goods or services. The individual items included in these indexes are weighted by the producing establishment's revenue for the product line. In the second stage of PPI computation, indexes for individual goods and services are combined into aggregate indexes.
Data for weighting together the product-line indexes comes primarily from the economic censuses of the Bureau of Census. These weights are updated every 5 years. The weights for combining product-line indexes into aggregate indexes are somewhat different for each of the three types of aggregate indexes.
For industry net output indexes, product-line weights are the value of shipments from establishments in the industry primarily engaged in the production of the product to establishments outside of the industry. For the commodity grouping indexes, product line weights are the gross value of shipments across all industries engaged in the production of the product.
For the commodity Final Demand-Intermediate Demand indexes, the product-line weights from the commodity grouping indexes are allocated to higher level indexes based on relationships seen in the U. PPIs are published for the output of almost all industries in the goods-producing sectors of the U. For any given industry, producers are usually selected for the survey using a systematic sampling from a listing of all firms that file with the Unemployment Insurance System.
Occasionally, supplementary information from other publicly available lists is used to refine the industry's frame of establishments. For service-sector industries in particular, it is sometimes necessary to use frames other than the list from the Unemployment Insurance system so that additional establishment data can be analyzed. Typically, a firm's probability of selection is based on its employment size. After a firm is selected and agrees to participate in the survey, a probability sampling technique called disaggregation is used to determine which specific products or services will be included in the PPI.
Disaggregation is a process in which iterative steps are taken to select items based on their proportionate value to the manufacturer's overall revenue. First, a respondent breaks down the type of items shipped into categories. Next, these categories are broken down further by price determining characteristics— for example, options, color, and size. Further breakdowns may be necessary to differentiate between types of buyers or discounts.
Disaggregation continues until a specific product sold to a specific buyer is selected. When an establishment is selected to participate in the PPI survey, it is visited by a field economist who solicits the firm's voluntary cooperation and informs the firm of the strict confidentiality rules that will safeguard the information being requested.
Once cooperation is obtained, the field economist uses the disaggregation technique see Question 8 to select the specific goods or services for which prices will be reported.
From that point forward, the establishment reports prices for the selected products, usually on a monthly basis, using a secure website.
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