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Calculation of the Producer Price Index for Services was reviewed

The calculation of the 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 considered in future.

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

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Last updated 24.4.2019