Producer prices for services grew by 1.5 per cent year-on-year in January to March

According to Statistics Finland, the annual change in the Producer Price Index for Services was 1.5 per cent in the first quarter of 2018. Compared to the previous quarter, producer prices for services rose by 0.5 per cent.

Producer Price Indices for Services 2015=100, I/2015–I/2018

Producer prices for services were pushed up particularly by higher prices of rents of dwellings and business and management consulting services from one year ago. The price increase was also affected by higher prices of freight transport by road and technical services. The rise was held back by, among other things, by lower prices of renting services of passenger cars, as well as renting services of construction machinery and equipment.

Producer prices for services for enterprises and public sector (Business to Business, BtoB) were pushed up in particular by higher prices of business and management consulting services and freight transport by road from one year ago. The rise was held back by lower prices of, for example, renting of other construction machinery and equipment. Producer prices for services for households (Business to Consumers, BtoC) were, in turn, pushed up particularly by higher prices of rents of dwellings and food services from one year ago. The rise was held back by fallen prices of renting services of passenger cars, among other things.

Producer Price Index for Services revised

The Producer Price Index for Services is revised and its base year is changed to 2015. In connection with the revision, the weight structures of the statistics were updated to correspond with the values of output of the national accounts for 2015. In addition, the service group and enterprise samples were updated. The classification used in the releases is the CPA product classification instead of the previously used Standard Industrial Classification. Indices with base years 2010=100 and 2005=100 will be calculated forward by chaining with the index with the latest base year, i.e. they will develop in line with the index with the base year 2015=100.

The content of the Producer Price Index for Services is expanded. In addition to the price development of the Business to Business services and services enterprises produce for the public sector (Business to Business, BtoB), the index also describes the price development of services provided by enterprises to households (Business to Consumers, BtoC) and Business to All (BtoAll) services. In connection with the renewal, Other auxiliary transport services (CPA 2015: 52.29) is published as a new index series.

Producer Price Indices for Services 2015=100, total (BtoAll), 1st quarter 2018

Services by activity	Point figure	Quarterly change,%	Annual change,%
TOTAL INDEX	102.7	0.5	1.5
H TRANSPORTATION AND STORAGE SERVICES	101.4	0.7	2.3
I ACCOMMODATION AND FOOD SERVICES	105.1	0.6	2.0
J INFORMATION AND COMMUNICATION SERVICES	102.7	0.1	0.9
L REAL ESTATE SERVICES	103.4	0.2	1.3
M PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES	102.8	0.6	2.0
N ADMINISTRATIVE AND SUPPORT SERVICES	100.1	-0.3	-0.3
P EDUCATION SERVICES	100.7	-0.4	0.7
Q HUMAN HEALTH AND SOCIAL WORK SERVICES	105.8	2.2	2.2
R ARTS, ENTERTAINMENT AND RECREATION SERVICES	104.2	0.5	1.7
S OTHER SERVICES	102.7	0.6	1.2

Producer Price Indices for Services currently covers about 60 per cent of the market services.

Source: Producer Price Indices for Services 2018, 1st quarter. Statistics Finland

Inquiries: Susanna Tåg 029 551 2991, Satu Sitkiä-Vikholm 029 551 3424, pthi.tilastokeskus@stat.fi

Director in charge: Ville Vertanen

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Quality descriptions

Quality Description of Producer Price Index for Services (24.4.2018)

Updated 24.4.2018

Referencing instructions:

Official Statistics of Finland (OSF): Producer price indices for services [e-publication].
ISSN=1798-3940. 1st quarter 2018. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/pthi/2018/01/pthi_2018_01_2018-04-24_tie_001_en.html