Services Producer Price Index, third quarter 2022
Services prices still on a high level in the third quarter of 2022
Statistical news from Statistics Sweden 2022-11-04 8.00
The Services Producer Price Index increased by 1.5 percent in the third quarter of 2022 compared to the second quarter of 2022. Since the third quarter of 2021, the Services Producer Price Index has increased by 7.8 percent. The annual rate in the second quarter of 2022 was 7.9 percent.
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q2 2022– Q3 2022 |
Q3 2021– Q3 2022 |
|
| SPPI | 1.5 | 7.8 | |
| H | Transport and storage services | 2.0 | 14.8 |
| I | Hotel and restaurant services | 3.8 | 11.3 |
| J | Information and communication services | 2.1 | 8.1 |
| L | Real estate services | 0.1 | 4.1 |
| M | Professional, scientific and technical services | 0.4 | 3.7 |
| N | Administrative and support services | 2.6 | 6.6 |
| R+S | Other services | 2.0 | 6.0 |
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).
Changes during the last quarter
The quarterly rate of change was lower in the third quarter 2022 than in the second quarter 2022, 1.5 percent compared to 2.3 percent.
The main upward contribution to the positive quarterly rate of change was higher prices on software publishing services with a contribution of 0.3 percentage points to total SPPI. Freight transport services by road contributed with 0.2 percentage points.
Higher prices on tour operator services, licensing services for the right to use intellectual property and hotel and similar accommodation services as well as several other groups, contributed upward with 0.1 percentage point each. This increase was partially offset by a downward contribution of 0.1 percentage point from real estate services on a fee or contract basis.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q2 2022– Q3 2022 |
|
|---|---|---|
| 49.41 | Freight transport services by road | 0.2 |
| 50.2 | Sea and coastal freight water transport services | 0.1 |
| 52.2 | Support services for transportation | 0.1 |
| 55.1 | Hotel and similar accommodation services | 0.1 |
| 56 | Food and beverage serving services | 0.1 |
| 58.2 | Software publishing services | 0.3 |
| 62.03 | Computer facilities management services | 0.1 |
| 68.2B | Rental and operating services of own or leased shops | 0.1 |
| 68.3 | Real estate services on a fee or contract basis | ‑0.1 |
| 69 | Legal and accounting services | 0.1 |
| 73.12 | Media representation services | 0.1 |
| 77.4 | Licensing services for the right to use intellectual property and similar products, except copyrighted works | 0.1 |
| 79.12 | Tour operator services | 0.1 |
Changes in the last year
The annual rate of change for the Services Producer Price Index was positive but somewhat lower in the third quarter of 2022, with 7.8 percent compared to the annual rate of 7.9 percent in the second quarter of 2022.
In the past year, prices have risen within freight transport services by road which contributed to the annual rate by 0.9 percentage points. Support services for transportation and software publishing services both contributed to the annual rate by 0.8 percentage points each. Higher prices in sea and coastal freight water transport services as well as in computer programming, consultancy and related services, contributed to the annual rate by 0.7 percentage points each. Rental and operating services of own or leased real estate contributed by 0.6 points to the annual rate.
Next publishing will be
The Services Producer Price Index for the fourth quarter 2022 will be published on 2023-02-03 at 8:00.
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.