Services Producer Price Index, first quarter 2023
Lower annual rates for service prices in the first quarter of 2023.
Statistical news from Statistics Sweden 2023-05-05 8.00
The Services Producer Price Index increased by 1.2 percent in the first quarter of 2023 compared to the fourth quarter of 2022. Since the first quarter of 2022, the Services Producer Price Index has increased by 5.9 percent (7.5 percent in the fourth quarter of 2022).
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q4 2022– Q1 2023 |
Q1 2022– Q1 2023 |
|
| SPPI | 1.2 | 5.9 | |
| H | Transport and storage services | 0.4 | 6.1 |
| I | Hotel and restaurant services | 0.1 | 9.6 |
| J | Information and communication services | 0.4 | 6.9 |
| L | Real estate services | 4.4 | 5.2 |
| M | Professional, scientific and technical services | 1.1 | 4.1 |
| N | Administrative and support services | 1.1 | 5.9 |
| R+S | Other services | 2.4 | 7.6 |
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 higher in the first quarter 2023 than in the fourth quarter 2022, 1.2 percent compared to 0.7 percent.
The main upward contribution to the positive quarterly rate of change was higher prices on rental and operating services of own or leased real estate with a contribution of 0.5 percentage points to total Services Producer Price Index. Computer programming, consultancy and related services contributed to the upturn with 0.2 percentage point. Legal and accounting 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 0.2 percentage points due to lower prices on support services for transportation. The increase was also offset by a downward contribution of 0.1 percentage point each from hotel and similar accommodation services and from software publishing services.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q4 2022– Q1 2023 |
|
|---|---|---|
| 49.41 | Freight transport services by road | 0.1 |
| 52.2 | Support services for transportation | ‑0.2 |
| 55.1 | Hotel and similar accommodation services | ‑0.1 |
| 56 | Food and beverage serving services | 0.1 |
| 58.2 | Software publishing services | ‑0.1 |
| 62 | Computer programming, consultancy and related services | 0.2 |
| 68.2A-E | Rental and operating services of own or leased real estate | 0.5 |
| 69 | Legal and accounting services | 0.1 |
| 71.1 | Architectural and engineering services and related technical consulting services | 0.1 |
| 77 | Rental and leasing services | 0.1 |
Changes in the last year
The annual rate of change for the Services Producer Price Index was positive but lower in the first quarter of 2023, with 5.9 percent compared to the annual rate of 7.5 percent in the fourth quarter of 2022.
In the past year, prices have risen within rental and operating services of own or leased real estate which contributed to the annual rate by 0.8 percentage points. Freight transport services by road, computer programming, consultancy, and related services, as well as software publishing services contributed upwards by 0.6 percentage points respectively. Food and beverage serving services and rental and leasing services both contributed to the annual rate by 0.4 percentage points each.
Next publishing will be
The Services Producer Price Index for the second quarter 2023 will be published on 2023-08-04 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.