Producer prices for services grew by 2.5 per cent year-on-year in April to June 2024

Product groups driving the changes in indices

Compared with previous year’s second quarter, the rise in producer price indices for services in total (Business to All, BtoAll) was particularly caused by higher prices of rental and operating services of own or leased real estate, business and other management consulting services, and human health services. The increase in BtoAll prices was curbed especially by lower prices of rental and leasing services of construction and civil engineering machinery and equipment and telecommunications services compared with Q2 2023.

The year-on-year increase in the prices of services for enterprises and the public sector (Business to Business, BtoB) was driven especially by higher prices of business and other management consulting services, rental and operating services of own or leased real estate, and computer programming, consultancy and related services. As in BtoAll-index, the increase in BtoB prices was curbed by lower prices of rental and leasing services of construction and civil engineering machinery and equipment and telecommunications services compared with Q2 2023.

Prices of services sold to households (Business to Consumers, BtoC) were increased from Q2 2023 particularly due to higher prices of food and beverage serving services, rental and operating services of own or leased real estate, and human health services. The increase was curbed especially by fallen prices of passenger air transport services, urban and suburban passenger land transport services, and interurban passenger rail transport services compared with a year ago.

Producer price indices for services currently cover about 75 per cent of all market services. Coverage is nearly 90 per cent when wholesale and retail trade services are excluded from the analysis.