Services Producer Price Index, 4th quarter 2020
Negative annual rate of change for the Services Producer Price Index
Statistical news from Statistics Sweden 2021-02-05 9.30
The Services Producer Price Index decreased by 0.4 percent from the third quarter to the fourth quarter of 2020. Since the fourth quarter of 2019, the Services Producer Price Index has decreased by 0.2 percent. This is the first time the annual rate of change is negative since 2005, when compilation of total SPPI began. The corresponding annual rate in the previous quarter was 0.2 percent.
Changes during the last quarter
The main downward contribution to the negative quarterly rate of change, 0.6 percentage points, came from lower prices on travel agency and tour operator services. Prices also decreased on transport services, software publishing services, and hotel and similar accommodation services. Among transport services in particular, prices fell on freight transport services by road and on water transport services, leading to downward contributions of 0.1 percentage points each. In addition, downward contributions of 0.1 percentage points each came from software publishing services, and hotel and similar accommodation services.
This quarterly decrease was partially offset by upward contributions from support services for transportation, and rental and operating services of own or leased real estate, of 0.1 percentage points each. An upward contribution of 0.1 percentage point also came from advertising and market research services.
Changes in the last year
The Services Producer Price Index yearly change was -0.2 percent, which is the lowest annual rate since the total index was first produced in 2005. While a low annual rate was also noted in the third quarter, the rate was even lower, as well as negative, in the fourth quarter of 2020.
In the past year, prices have decreased mainly in accommodation and food services, information and communication services, and administrative and support services. In particular, falling prices on travel agency and tour operator services, and accommodation services led to downward contributions of 0.3 percentage points each.
This decrease was partially offset by upward contributions due to rising prices on warehousing and support services for transportation and rental, and operating services of own or leased real estate, of 0.4 percentage points and 0.2 percentage points, respectively.
| Service Producer Price Indices | Weight 2020 | Index | Quarterly change, percent |
Annual change, percent |
Effect* | |
|---|---|---|---|---|---|---|
| Section | Q4 2020, 2015=100 |
Q3 2020– Q4 2020 |
Q4 2019– Q4 2020 |
Q3 2020– Q4 2020 |
||
| SPPI | 1 000.0 | 106.0 | ‑0.4 | ‑0.2 | ‑0.4 | |
| H | Transport and storage services | 192.6 | 110.2 | 0.2 | 1.9 | 0.0 |
| I | Hotel and restaurant services | 63.9 | 108.2 | ‑0.7 | ‑3.5 | 0.0 |
| J | Information and communication services | 232.4 | 96.9 | ‑0.4 | ‑1.7 | ‑0.1 |
| L | Real estate services | 144.9 | 109.2 | 0.5 | 1.6 | 0.1 |
| M | Professional, scentific and technical services | 201.5 | 108.0 | 0.7 | 0.5 | 0.1 |
| N | Administrative and support services | 152.1 | 108.3 | ‑3.3 | ‑1.9 | ‑0.5 |
| R+S | Other services | 12.6 | 107.6 | 0.0 | 1.1 | 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
Changes in 2021
Some changes in the production of the Producer and Import Price Index will be introduced from 2021. For further information, please see:
Next publishing will be
The Services Producer Price Index for the first quarter 2021 will be published on 2021-05-07 at 9:30.
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.