Services Producer Price Index, fourth quarter 2022
Lower rates of increase for service prices in the fourth quarter of 2022
Statistical news from Statistics Sweden 2023-02-03 8.00
The Services Producer Price Index increased by 0.7 percent in the fourth quarter of 2022 compared to the third quarter of 2022. Since the fourth quarter of 2021, the Services Producer Price Index has increased by 7.5 percent. The annual rate in the third quarter of 2022 was 7.8 percent.
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q3 2022– Q4 2022 |
Q4 2021– Q4 2022 |
|
| SPPI | 0.7 | 7.5 | |
| H | Transport and storage services | ‑0.7 | 11.5 |
| I | Hotel and restaurant services | 0.8 | 9.7 |
| J | Information and communication services | 2.0 | 9.0 |
| L | Real estate services | 0.3 | 3.5 |
| M | Professional, scientific and technical services | 1.1 | 4.5 |
| N | Administrative and support services | 0.2 | 6.4 |
| R+S | Other services | 1.5 | 6.4 |
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 fourth quarter 2022 than in the third quarter 2022, 0.7 percent compared to 1.5 percent.
The main upward contribution to the positive quarterly rate of change was higher prices on software publishing services with a contribution of 0.2 percentage points to total SPPI. Computer programming, consultancy and related services, food and beverage serving services and urban and suburban passenger land transport 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 tour operator services and from sea and coastal freight water transport services.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q3 2022– Q4 2022 |
|
|---|---|---|
| 49.31 | Urban and suburban passenger land transport services | 0.1 |
| 50.2 | Sea and coastal freight water transport services | ‑0.1 |
| 52.2 | Support services for transportation | ‑0.2 |
| 56 | Food and beverage serving services | 0.1 |
| 58.2 | Software publishing services | 0.2 |
| 59 | Motion picture, video and television programme production services, sound recording and music publishing | 0.1 |
| 62 | Computer programming, consultancy and related services | 0.1 |
| 68.2A | Rental and operating services of own or leased, offices | 0.1 |
| 70.2 | Management consulting services | 0.1 |
| 71.12 | Engineering services and related technical consulting services | 0.1 |
| 73.1 | Advertising services | 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 fourth quarter of 2022, with 7.5 percent compared to the annual rate of 7.8 percent in the third quarter of 2022.
In the past year, prices have risen within software publishing services which contributed to the annual rate by 1.0 percentage point. Freight transport services by road and computer programming, consultancy and related services contributed upwards by 0.8 and 0.6 percentage points respectively. Support services for transportation and rental and operating services of own or leased real estate both contributed to the annual rate by 0.5 percentage points each.
Next publishing will be
The Services Producer Price Index for the first quarter 2023 will be published on 2023-05-05 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.