Producer prices for services grew by 2.7 per cent year-on-year in October to December 2023
release | Producer price indices for services 2023, 4th quarterChange
According to Statistics Finland, the annual change in the producer price indices for services was 2.7 per cent in the fourth quarter of 2023. Compared to the previous quarter, producer prices for services rose by 0.5 per cent.
Key selections
- Producer prices for services in total (BtoAll) rose by 2.7 per cent year-on-year and by 0.5 per cent from the previous quarter.
- Producer prices of services for enterprises and the public sector (BtoB) went up by 2.3 per cent year-on-year and by 0.5 per cent from the previous quarter.
- Producer prices of services for households (BtoC) increased by 4.0 per cent year-on-year and by 0.5 per cent from the previous quarter.
Product groups driving the changes in indices
Compared to previous year’s fourth quarter, the rise in producer price indices for services in total (Business to All, BtoAll) was particularly caused by higher prices of food and beverage serving services, computer programming, consultancy and related services, and human health services. The increase in BtoAll prices was curbed especially by lower prices of sea and coastal freight water transport services and other transportation support services compared to Q4 2022.
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 computer programming, consultancy and related services, human health services, and rental and operating services of own or leased real estate. As in BtoAll-index, the increase in BtoB prices was curbed by lower prices of sea and coastal freight water transport services and other transportation support services compared to Q4 2022.
Prices of services sold to households (Business to Consumers, BtoC) were increased from Q4 2022 particularly due to higher prices of food and beverage serving services, travel agency, tour operator and other reservation services, and rental and operating services of own or leased real estate. The increase was curbed by fallen prices of services incidental to land transportation compared to a year ago.
Producer price indices for services currently cover about 70 % of all market services. Coverage is 85 % when wholesale and retail trade services are excluded.
Tables
Producer price indices for services 2015=100, total (BtoAll), 2023Q4, services by activity (CPA 2015)
Producer price indices for services 2015=100, services to enterprises and public sector (BtoB), 2023Q4, services by activity (CPA 2015)
Producer price indices for services 2015=100, services to households (BtoC), 2023Q4, services by activity (CPA 2015)
Producer price indices for services 2010=100, services to enterprises and public sector (BtoB), 2023Q4, industry (TOL 2008)
Database tables
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- Products by activity (CPA 2015)
- Destination of service
- Industry
- Industry
- Destination of service
- Products by activity (CPA 2015)