Services Producer Price Index, second quarter 2024
Rise in services prices in the second quarter of 2024
Statistical news from Statistics Sweden 2024-08-06 8.00
The Services Producer Price Index increased by 1.0 percent in the second quarter of 2024 compared to the first quarter of 2024. Compared to the second quarter of 2023, the Services Producer Price Index has increased by 3.1 percent (2.7 percent in the first quarter of 2024).
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q1 2024– Q2 2024 |
Q2 2023– Q2 2024 |
|
| SPPI | 1.0 | 3.1 | |
| H | Transport and storage services | 0.5 | 3.2 |
| I | Hotel and restaurant services | 3.6 | 5.3 |
| J | Information and communication services | 0.6 | 2.3 |
| L | Real estate services | 1.5 | 4.9 |
| M | Professional, scientific and technical services | 0.8 | 2.8 |
| N | Administrative and support services | 1.4 | 2.9 |
| R+S | Other services | 0.8 | 4.1 |
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 in the second quarter 2024 was 1.0 percent, just like in the first quarter 2024.
The main upward contribution to the positive quarterly rate of change was higher prices on hotel and similar accommodation 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 support services for transportation, tour operator services, rental and operating services of own or leased real estate, restaurant and mobile food serving services, engineering services and related technical consulting services and publishing services.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q1 2024– Q2 2024 |
|
|---|---|---|
| 52.2 | Support services for transportation | 0.1 |
| 55.1 | Hotel and similar accommodation services | 0.2 |
| 56.1 | Restaurant and mobile food serving services | 0.1 |
| 58 | Publishing services | 0.1 |
| 68.2A-E | Rental and operating services of own or leased real estate | 0.1 |
| 71.12 | Engineering services and related technical consulting 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 in the second quarter of 2024, 3.1 percent, and higher compared to the annual rate of 2.7 percent in the first quarter of 2024.
The main contribution to the positive annual rate of change came from real estate services, transportation and storage services, professional, scientific and technical services and information and communication services, which contributed upwards by 0.6 percentages points respectively. Administrative and support services contributed upwards by 0.4 percentages points and hotel and restaurant services contributed upwards to the annual rate by 0.3 percentage points.
Next publishing will be
The Services Producer Price Index for the third quarter 2024 will be published on 2024-11-08 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.