Services Producer Price Index, 3rd quarter 2020
Lowest yearly change since the start of the Services Producer Price Index
Statistical news from Statistics Sweden 2020-11-06 9.30
The Services Producer Price Index increased by 0.2 percent from the second quarter to the third quarter of 2020. Since the third quarter of 2019, the Services Producer Price Index has increased by 0.2 percent. This is the lowest yearly change since 2005, when the compilation of total SPPI began. The corresponding annual rate in the previous quarter was 0.7 percent.
Changes during the last quarter
The main contribution in the third quarter of 2020, 0.3 percentage points, came from higher prices on rental and operating services of own or leased real estate. Upward contributions also came from telecommunications services, 0.1 percentage point. Prices on these services increased by 2.5 percent and 1.5 percent respectively in the third quarter of 2020.
This quarterly increase was partially offset by downward contributions from air transport services, 0.2 percentage points. Prices on air transport services fell by 14.4 percent in the third quarter of 2020. Downward contributions also came from other transportation support services and from publishing services, 0.1 percentage points each. Prices on these services fell by 2.6 percent and 2.0 percent respectively.
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.
In the past year, prices on hotel and similar accommodation services fell by 15.3 percent. The downward contribution from these services to the yearly change was 0.3 percentage points. In the third quarter of 2020, prices on water transport services fell by 7.4 percent compared with the third quarter of 2019, and the downward contribution to the yearly change was 0.1 percentage point.
Upward contributions of 0.2 percentage points each came from higher prices on other transportation support services and rental and operating services of own or leased real estate. In 2020, prices on these services increased by 3.7 percent and 1.8 percent respectively.
| Service Producer Price Indices | Weight 2020 | Index | Quarterly change, percent |
Annual change, percent |
Effect* | |
|---|---|---|---|---|---|---|
| Section | Q3 2020, 2015=100 |
Q2 2020– Q3 2020 |
Q3 2019– Q3 2020 |
Q2 2020– Q3 2020 |
||
| SPPI | 1 000.0 | 106.4 | 0.2 | 0.2 | 0.2 | |
| H | Transport and storage services | 192.6 | 110.0 | ‑1.2 | 1.8 | ‑0.2 |
| I | Hotel and restaurant services | 63.9 | 109.0 | 0.7 | ‑2.6 | 0.0 |
| J | Information and communication services | 232.4 | 97.3 | ‑0.6 | ‑1.6 | ‑0.1 |
| L | Real estate services | 144.9 | 108.7 | 2.5 | 2.0 | 0.4 |
| M | Professional, scentific and technical services | 201.5 | 107.3 | 0.0 | 0.8 | 0.0 |
| N | Administrative and support services | 152.1 | 112.0 | 1.4 | ‑0.6 | 0.2 |
| R+S | Other services | 12.6 | 107.6 | 0.8 | 1.0 | 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
Next publishing will be
The Services Producer Price Index for the fourth quarter 2020 will be published on 2021-02-05 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.