Services Producer Price Index, fourth quarter 2021
Record annual rate for service prices in the fourth quarter of 2021
Statistical news from Statistics Sweden 2022-02-04 8.00
The Service Producer Price Index increased by 1.1 percent from the third quarter of 2021 to the fourth quarter of 2021. Since the fourth quarter of 2020, the Service Producer Price Index has increased by 4.8 percent. That is the highest annual rate since 2005, when compilation of total SPPI began. The annual rate in the third quarter of 2021 was 3.2 percent.
| Service Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q3 2021– Q4 2021 |
Q4 2020– Q4 2021 |
|
| SPPI | 1.1 | 4.8 | |
| H | Transport and storage services | 2.2 | 11.8 |
| I | Hotel and restaurant services | 2.3 | 5.2 |
| J | Information and communication services | 1.1 | 2.6 |
| L | Real estate services | 0.9 | 2.2 |
| M | Professional, scientific and technical services | 0.4 | 2.6 |
| N | Administrative and support services | 0.4 | 4.5 |
| R+S | Other services | 1.1 | 4.0 |
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 main upward contribution to the positive quarterly rate of change was higher prices in the section for computer programming, consultancy and related services, with a contribution of 0.2 percentage points. Support services for transportation and sea and coastal freight water transport services accounted for an upward contribution of 0.2 percentage points each.
Higher prices for land transport services, real estate services, licensing services for the right to use intellectual property, publishing services, hotel services for business guests as well as food and beverage serving services contributed upward with 0.1 percentage point each.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q3 2021– Q4 2021 |
|
|---|---|---|
| 49 | Land transport services | 0.1 |
| 50.2 | Sea and coastal freight water transport services | 0.2 |
| 52.2 | Support services for transportation | 0.2 |
| 55.1A | Hotel and similar accommodation services, business guests | 0.1 |
| 56 | Food and beverage serving services | 0.1 |
| 58 | Publishing services | 0.1 |
| 62 | Computer programming, consultancy and related services | 0.2 |
| 68 | Real estate services | 0.1 |
| 77.4 | Licensing services for the right to use intellectual property and similar products, except copyrighted works | 0.1 |
Changes in the last year
The annual rate of change for the Service Producer Price Index was positive in the fourth quarter of 2021, with 4.8 percent compared to the annual rate of 3.2 percent in the third quarter of 2021. This is the highest annual rate since 2005, when compilation of total SPPI began.
In the past year, prices have risen mainly within transportation and storage services, which contributed to the annual rate by 2.4 percentage points. In this section, support services for transportation contributed with 1.3 percentage points to the upturn, water transport services by 0.6 percentage points and freight transport services by road by 0.3 percentage points.
Higher prices in information and communication services contributed to the annual rate by 0.7 percentage points, where computer programming, consultancy and related services accounted for an upward contribution of 0.4 percentage points.
Several groups in professional, scientific and technical services together contributed upward to the annual rate by 0.6 percentage points. In administrative and support services the main upward contribution came from licensing services for the right to use intellectual property by 0.3 percentage points.
Next publishing will be
The Services Producer Price Index for the first quarter 2022 will be published on 2022-05-06 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.