1. This news release features a major planned revision linked to the rebasing exercise communicated in the Press Information Notice dated 20 February 2024. This routine major activity, conducted every five years, ensures the consistency and accuracy of short-term business statistics. The index reference period was updated from 2015=100 to 2021=100.

2. The Industrial Producer Price Index (IPPI) monitors the changes in selling prices of all leading products within a sample of around 80 large enterprises which account for over 80 per cent of the total industrial turnover.

This news release is being published with the new base year 2021=100. Hence, indices cannot be directly compared to previous news releases published with base year 2015=100.

3. The pricing point for the monthly price collection is the 15th day of the month or the nearest trading day prior to that date.

4. The methodologies and guidelines used are set by Eurostat and the International Monetary Fund (IMF).

5. Commission Implementing Regulation 2020/1197 specifies that it is the objective of the Industrial Producer Price Index to measure the development of transaction prices from the point of view of the producer. The observed producer price is the basic price that excludes VAT and adds subsidies on products received by the producer.

6. Euro area exports are transactions between Maltese enterprises and enterprises within the euro area. The euro area includes Austria, Belgium, Cyprus, Croatia (2023), Estonia (from 2011), Finland, France, Germany, Greece, Ireland, Italy, Latvia (from 2014), Lithuania (from 2015), Luxembourg, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These are classified as ‘non-domestic euro-area’. The ‘non-domestic non-euro area’ covers transactions between Maltese enterprises and enterprises within the non-euro area. Examples include the USA and Sweden. The latter country is in the EU but does not use the euro currency. Transactions among local resident enterprises are considered ‘domestic’.

7. The objective of Main Industrial Groupings (MIGs) is to provide an activity breakdown of industry using the internationally recognised classification of economic activities (NACE Rev. 2 Sections B, C, D and E) in terms of demand-based products: intermediate goods, energy, capital goods, durable consumer goods, and non-durable consumer goods. These regroup NACE Sections B to E and cover the following economic activities: quarrying, manufacturing, electricity and water supply.

8. Figures for the last three months are to be considered provisional and subject to revision. However, in exceptional cases, past data may also be revised.

9. The figures in this news release are unadjusted, that is, there are no working-day or seasonal adjustments. Indices are calculated using a Laspeyres-type index (2021=100). The data contained in this release is subject to revision. For an updated time-series which includes past data, please refer to the Statistical Indicators for this domain.

10. Statistics in this news release should be interpreted in context to the unprecedented developments and restrictions related to COVID-19.