Home > Statistics > Producer price indices for services > 2019 > 2nd quarter > Producer prices for services grew by 1.7 per cent year-on-year in April to June

Published: 24 July 2019

Producer prices for services grew by 1.7 per cent year-on-year in April to June

According to Statistics Finland, the annual change in the Producer Price Index for Services was 1.7 per cent in the second quarter of 2019. Compared to the previous quarter, producer prices for services rose by 0.4 per cent.

Producer Price Indices for Services 2015=100, I/2015–II/2019

Producer prices for services were pushed up particularly by higher prices of rents of dwellings and freight transport by road from one year ago. The price increase was also affected by higher prices of food services and human health services. The rise in the prices was held back by fallen prices of renting services of construction machinery and equipment, as well as renting services of passenger cars, for example.

Producer prices for services for enterprises and the public sector (Business to Business, BtoB) were boosted in particular by higher prices of freight transport by road and business and management consulting services from one year ago. The rise was held back by fallen prices of renting services of machinery and equipment, among other things. 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, for example, lower prices of renting services of passenger cars.

Producer Price Indices for Services 2015=100, total (BtoAll), 2nd quarter 2019

Services by activity	Point figure	Quarterly change,%	Annual change,%
TOTAL INDEX	105.2	0.4	1.7
H TRANSPORTATION AND STORAGE SERVICES	105.2	0.7	2.6
I ACCOMMODATION AND FOOD SERVICES	108.5	0.3	2.3
J INFORMATION AND COMMUNICATION SERVICES	104.7	0.2	1.8
L REAL ESTATE SERVICES	105.7	0.5	1.7
M PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES	105.4	0.8	1.6
N ADMINISTRATIVE AND SUPPORT SERVICES	100.0	-0.1	-1.4
P EDUCATION SERVICES	105.7	0.0	5.4
Q HUMAN HEALTH AND SOCIAL WORK SERVICES	109.5	0.1	3.4
R ARTS, ENTERTAINMENT AND RECREATION SERVICES	104.4	0.2	0.6
S OTHER SERVICES	104.7	0.4	1.0

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

Reviews to the calculation of the Producer Price Index for Services

The calculation of Producer Price Index for Services was reviewed starting from the index for the first quarter of 2019 so that the indices will in future be annual chain-linked indices.

In practice, the shift to the chain-linked index method means that the weight structure of the Producer Price Index for Services will in future be updated every year. The new weight structure will take effect starting from the index for the first quarter of each year. In addition to the weight structure, product categories and the enterprise sample can also be updated annually, if needed. The base year of the index remains unchanged (2015=100).

In future, the index calculation will be made so that each index series is chained forward with changes in the index calculated according to the new weight structure. A more detailed description of the calculation method is available in the updated Producer Price Index for Manufactured Products and Producer Price Indices for Services 2015=100 Handbook for Users to be published later.

These changes improve the quality of the index, because with their help, structural changes in the production of services can be taken into account faster in the future.

In addition to changing the calculation method, monthly index point figures of Producer Price Indices of Services will also in future be published in the StatFin database. However, the index is still published quarterly.

Source: Producer Price Indices for Services 2019, 2nd quarter. Statistics Finland

Inquiries: Ville Markkanen 029 551 3023, Satu Sitkiä-Vikholm 029 551 3424, Juho Ivaska 029 551 3085, pthi.tilastokeskus@stat.fi

Director in charge: Ville Vertanen

Publication in pdf-format (330.3 kB)

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Appendix tables

• Appendix table 1. Producer Price Indices for Services 2015=100, total (BtoAll), 2nd quarter 2019 (24.7.2019)
• Appendix table 2. Producer Price Indices for Services 2015=100, services to enterprises and public sector (BtoB), 2nd quarter 2019 (24.7.2019)
• Appendix table 3. Producer Price Indices for Services 2015=100, services to households (BtoC), 2nd quarter 2019 (24.7.2019)
• Appendix table 4. Producer Price Indices for Services 2010=100, services to enterprises and public sector (BtoB), 2nd quarter 2019 (24.7.2019)

Quality descriptions

• Quality Description of Producer Price Index for Services (24.7.2019)

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Updated 24.07.2019