Services Producer Price Index, third quarter 2024
Lower annual rates for services prices in the third quarter of 2024
Statistical news from Statistics Sweden 2024-11-08 8.00
The Services Producer Price Index increased by 0.4 percent in the third quarter of 2024 compared to the second quarter of 2024. Compared to the third quarter of 2023, the Services Producer Price Index has increased by 2.4 percent (3.1 percent in the second quarter of 2024).
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q2 2024– Q3 2024 |
Q3 2023– Q3 2024 |
|
| SPPI | 0.4 | 2.4 | |
| H | Transport and storage services | ‑0.5 | 1.3 |
| I | Hotel and restaurant services | 1.4 | 5.1 |
| J | Information and communication services | 0.6 | 1.5 |
| L | Real estate services | 0.5 | 4.8 |
| M | Professional, scientific and technical services | 0.1 | 2.2 |
| N | Administrative and support services | 1.1 | 2.5 |
| R+S | Other services | 0.9 | 4.3 |
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 third quarter 2024 than in the second quarter 2024, 0.4 percent compared to 1.0 percent.
The main upward contribution to the positive quarterly rate of change was higher prices on tour operator services with a contribution of 0.2 percentage points to total SPPI. There were several different services which contributed with 0.1 percentage points each to the quarterly rate of change. These include computer programming, consultancy and related services, restaurant and mobile food serving services as well as support services for transportation.
This increase was partially offset by a downward contribution of 0.1 percentage points each, due to lower prices on sea and coastal freight water transport services, other passenger land transport services and licensing services for the right to use intellectual property.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q2 2024– Q3 2024 |
|
|---|---|---|
| 49.3 | Other passenger land transport services | ‑0.1 |
| 50.2 | Sea and coastal freight water transport services | ‑0.1 |
| 52.2 | Support services for transportation | 0.1 |
| 56.1 | Restaurant and mobile food serving services | 0.1 |
| 62 | Computer programming, consultancy and related services | 0.1 |
| 77.4 | Licensing services for the right to use intellectual property | ‑0.1 |
| 79.12 | Tour operator services | 0.2 |
Changes in the last year
The annual rate of change for the Services Producer Price Index was positive in the third quarter of 2024, 2.4 percent, but lower compared to the annual rate of 3.1 percent in the second quarter of 2024.
The main contribution to the positive annual rate of change came from real estate services with a contribution of 0.6 percentage points to total Services Producer Price Index. Professional, scientific and technical services contributed upwards by 0.5 percentage points and information and communication services contributed upwards by 0.4 percentage points. Administrative and support services as well as hotel and restaurant services contributed upwards by 0.3 percentage points each and transport and storage services contributed upwards to the annual rate by 0.2 percentage points.
Changes within 55.1 and 68.2
As of the publication of Producer Price Index for Services (SPPI) for the first quarter of 2025, changes will be made within product groups 55.1 and 68.2. The breakdowns with letters at the end will no longer exist. Product groups 55.1A, 55.1B, 55.1C, 68.2A, 68.2B, 68.2C, 68.2D and 68.2E will no longer be produced and published.
Next publishing will be
The Services Producer Price Index for the fourth quarter 2024 will be published on 2025-02-07 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.