Services Producer Price Index, fourth quarter 2024
Lower rates of increase for services prices in the fourth quarter of 2024
The Services Producer Price Index increased by 0.2 percent in the fourth quarter of 2024 compared to the third quarter of 2024. Compared to the fourth quarter of 2023, the Services Producer Price Index has increased by 2.7 percent (2.4 percent in the third quarter of 2024).
| Services Producer Price Indices | Quarterly change, percent |
Annual change, percent |
|
|---|---|---|---|
| Section | Q3 2024– Q4 2024 |
Q4 2023– Q4 2024 |
|
| SPPI | 0.2 | 2.7 | |
| H | Transport and storage services | ‑0.2 | 1.3 |
| I | Hotel and restaurant services | ‑0.7 | 4.3 |
| J | Information and communication services | 0.3 | 2.3 |
| L | Real estate services | ‑0.2 | 4.5 |
| M | Professional, scientific and technical services | 0.6 | 2.5 |
| N | Administrative and support services | 0.3 | 2.9 |
| R+S | Other services | 0.5 | 4.4 |
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 2024 than in the third quarter 2024, 0.2 percent compared to 0.4 percent.
There were several different services which contributed with 0.1 percentage points each to the positive quarterly rate of change in the total SPPI. These include computer programming, consultancy and related services, legal and accounting services, licensing services for the right to use intellectual property, as well as employment services.
This increase was partially offset by a downward contribution of 0.1 percentage points each, due to lower prices on travel agency and tour operator services, hotel and similar accommodation services as well as software publishing services.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, Q3 2024– Q4 2024 |
|
|---|---|---|
| 55.1 | Hotel and similar accommodation services | ‑0.1 |
| 58.2 | Software publishing services | ‑0.1 |
| 62 | Computer programming, consultancy and related services | 0.1 |
| 69 | Legal and accounting services | 0.1 |
| 77.4 | Licensing services for the right to use intellectual property | 0.1 |
| 78 | Employment services | 0.1 |
| 79.1 | Travel agency and 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 fourth quarter of 2024, 2.7 percent, and higher compared to the annual rate of 2.4 percent in the third quarter of 2024.
The main contribution to the positive annual rate of change came from real estate services and information and communication services with a contribution of 0.6 percentage points each to total Services Producer Price Index. Professional, scientific, and technical services contributed upwards by 0.5 percentage points. Administrative and support services contributed upwards by 0.4 percentage points, hotel and restaurant services contributed upwards by 0.3 percentage points 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 the Services Producer Price Index (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.
Upcoming change
As of the publication for the first quarter of 2025, the statistical news for the Services Producer Price Index (SPPI) will have a new structure. The statistical news will include information on all markets, among other things.
Next publishing will be
The Services Producer Price Index for the first quarter 2025 will be published on 2025-05-09 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.