Services Producer Price Index, third quarter 2023
Rise in services prices in the third quarter of 2023
Statistical news from Statistics Sweden 2023-11-03 8.00
The Services Producer Price Index increased by 1.1 percent in the third quarter of 2023 compared to the second quarter of 2023. Compared to the third quarter of 2022, the Services Producer Price Index has increased by 3.7 percent (4.1 percent in the second quarter of 2023).
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q2 2023– Q3 2023 |
Q3 2022– Q3 2023 |
|
| SPPI | 1.1 | 3.7 | |
| H | Transport and storage services | 1.4 | 1.0 |
| I | Hotel and restaurant services | 1.6 | 6.2 |
| J | Information and communication services | 1.4 | 3.2 |
| L | Real estate services | 0.6 | 6.6 |
| M | Professional, scientific and technical services | 0.7 | 3.8 |
| N | Administrative and support services | 1.5 | 5.0 |
| R+S | Other services | 0.8 | 6.7 |
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 third quarter 2023 than in the second quarter 2023, 1.1 percent compared to 0.6 percent.
The main upward contribution to the positive quarterly rate of change was higher prices on motion picture, video and television programme production services, sound recording and music publishing with a contribution of 0.2 percentage points to total SPPI.
There were several different services which contributed upwards with 0.1 percentage point to the quarterly rate of change. These include support services for transportation, freight transport services by road, rental and leasing services, engineering services and related technical consulting services, computer facilities management services, food and beverage serving services, software publishing services, rental and operating services of own or leased offices, water transport services and management consulting services.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q2 2023– Q3 2023 |
|
|---|---|---|
| 49.41 | Freight transport services by road | 0.1 |
| 50 | Water transport services | 0.1 |
| 52.2 | Support services for transportation | 0.1 |
| 56 | Food and beverage serving services | 0.1 |
| 58.2 | Software publishing services | 0.1 |
| 59 | Motion picture, video and television programme production services, sound recording and music publishing | 0.2 |
| 62.03 | Computer facilities management services | 0.1 |
| 68.2A-E | Rental and operating services of own or leased real estate | 0.1 |
| 70.2 | Management consulting services | 0.1 |
| 71.12 | 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 in the third quarter of 2023, 3.7 percent, but lower compared to the annual rate of 4.1 percent in the second quarter of 2023.
The main contribution to the positive annual rate of change came from real estate services which contributed by 0.9 percentage points. Information and communication services and professional, scientific and technical services contributed by 0.8 percentages points respectively. Administrative and support services contributed to the annual rate by 0.6 percentage points, hotel and restaurant services contributed by 0.3 percentage points, transportation and storage services contributed by 0.2 percentage points and other services contributed by 0.1 percentage points.
Next publishing will be
The Services Producer Price Index for the fourth quarter 2023 will be published on 2024-02-06 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.