Services Producer Price Index, fourth quarter 2023
Services prices nearly unchanged in the fourth quarter of 2023
Statistical news from Statistics Sweden 2024-02-06 8.00
The Services Producer Price Index decreased by 0.1 percent in the fourth quarter of 2023 compared to the third quarter of 2023. Compared to the fourth quarter of 2022, the Services Producer Price Index has increased by 2.8 percent (3.7 percent in the third quarter of 2023).
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q3 2023– Q4 2023 |
Q4 2022– Q4 2023 |
|
| SPPI | ‑0.1 | 2.8 | |
| H | Transport and storage services | ‑0.2 | 1.4 |
| I | Hotel and restaurant services | 0.1 | 5.4 |
| J | Information and communication services | ‑0.5 | 0.6 |
| L | Real estate services | 0.1 | 6.4 |
| M | Professional, scientific and technical services | 0.3 | 2.9 |
| N | Administrative and support services | 0.0 | 4.8 |
| R+S | Other services | 0.3 | 5.5 |
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 2023 than in the third quarter 2023, -0.1 percent compared to 1.1 percent.
There were several different services which contributed downwards with 0.1 percentage points respectively to the quarterly rate of change. These include wireless telecommunications services, software publishing services, support services for transportation and freight transport services by road.
The decrease was partially offset by an upward contribution of 0.1 percentage point due to higher prices on engineering services and related technical consulting services.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q3 2023– Q4 2023 |
|
|---|---|---|
| 49.41 | Freight transport services by road | ‑0.1 |
| 52.2 | Support services for transportation | ‑0.1 |
| 58.2 | Software publishing services | ‑0.1 |
| 61.2 | Wireless telecommunications services | ‑0.1 |
| 71.12 | Engineering services and related technical consulting services | 0.1 |
Changes in the last year
The annual rate of change for the Services Producer Price Index was positive in the fourth quarter of 2023, 2.8 percent, but lower compared to the annual rate of 3.7 percent in the third quarter of 2023.
The main contribution to the positive annual rate of change came from real estate services which contributed by 0.8 percentage points. Professional, scientific and technical services as well as administrative and support services contributed upwards by 0.6 percentages points respectively. Transportation and storage services along with hotel and restaurant services contributed upwards by 0.3 percentage points each. Information and communication services contributed upwards to the annual rate by 0.2 percentage points and other services contributed upwards by 0.1 percentage points.
Next publishing will be
The Services Producer Price Index for the first quarter 2024 will be published on 2024-05-08 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.