Services Producer Price Index, 1st quarter 2020
Services prices rose by 2.3 percent over the last year
Statistical news from Statistics Sweden 2020-05-08 9.30
The Services Producer Price Index increased by 0.3 percent from the fourth quarter of 2019 to the first quarter of 2020. Since the first quarter of 2019, the Services Producer Price Index has increased by 2.3 percent. The corresponding annual rate in the previous quarter was also 2.3 percent.
Changes during the last quarter
The main upward contributions in the first quarter came from higher prices on support services for transportation and office rental. These product groups provided an upward contribution of 0.2 percentage points and 0.1 percentage point respectively. Publishing services, architectural and engineering services and related technical consulting services each provided 0.1 percentage point in upward contribution. In addition, computer programming, consultancy and related services and freight transport services by road also provided an upward contribution of 0.1 percentage point each.
This upturn was offset by lower prices on travel agency and tour operator services, and hotel and similar accommodation services, with a downward contribution of 0.3 percentage points and 0.1 percentage point respectively. Water transport services and telecommunications services also provided a downward contribution of 0.1 percentage point each. The decline in prices for travel and hotel-related services was seasonally related in part and in part related to the coronavirus pandemic toward the end of the measurement period. However, the coronavirus pandemic is deemed to have a limited effect on the Services Producer Price Index in the first quarter of 2020, since the measurement refers to average service prices over the quarter.
Changes in the last year
The annual rate for other professional, scientific and technical services was 6.7 percent. Rental of other premises and office rental also noted relatively large increases, with annual rates of 6.5 percent and 5.9 percent respectively. These price increases were offset by a decrease in prices among services such as telecommunications, for which prices fell by 3.3 percent compared with the same period last year.
| Service Producer Price Indices | Weight 2020 | Index | Quarterly change, percent | Annual change, percent | Effect* | |
|---|---|---|---|---|---|---|
| *Section | Q1 2020, 2015=100 | Q4 2019–Q1 2020 | Q1 2019–Q1 2020 | Q4 2019–Q1 2020 | ||
| SPPI | 1 000.0 | 106.5 | 0.3 | 2.3 | 0.3 | |
| H | Transport and storage services | 192.6 | 109.3 | 1.1 | 3.3 | 0.2 |
| I | Hotel and restaurant services | 63.9 | 110.9 | ‑1.1 | 2.9 | ‑0.1 |
| J | Information and communication services | 232.4 | 98.9 | 0.3 | 0.8 | 0.1 |
| L | Real estate services | 144.9 | 108.9 | 1.3 | 3.4 | 0.2 |
| M | Professional, scentific and technical services | 201.5 | 107.9 | 0.4 | 2.5 | 0.1 |
| N | Administrative and support services | 152.1 | 108.8 | ‑1.4 | 2.2 | ‑0.2 |
| R+S | Other services | 12.6 | 107.2 | 0.8 | 0.7 | 0.0 |
H includes (49-53), I includes (55-56), J includes (58-63), L includes (68), M includes (69-75), N includes (77-82), R+S includes (93+95-96). *Contribution to quarterly change in percentage points to total SPPI
Modified index calculation in Producer Price Index for Services (SPPI)
Next publishing will be
Service Producer Price Index for the second quarter 2020 will be published on 2020-08-07 at 9:30.
Statistical Database
More information is available in the Statistical Database
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