Producer prices for services grew by 3.4 per cent year-on-year in April to June 2023

Product groups driving the changes in indices

Compared to 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 food and beverage serving services, rental and operating services of own or leased real estate, and human health services. The increase in BtoAll prices was curbed by lower prices of business and other management consulting services, telecommunications services, and sea and coastal freight water transport services compared to Q2 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 rental and operating services of own or leased real estate, human health services, and computer programming, consultancy and related services. As in BtoAll-index, the increase in BtoB prices was curbed by lower prices of business and other management consulting services, telecommunications services, and sea and coastal freight water transport services compared to Q2 2022.

Prices of services sold to households (Business to Consumers, BtoC) were increased from Q2 2022 particularly due to higher prices of food and beverage serving services, human health services, and rental and operating services of own or leased real estate. The increase was curbed by fallen prices of rental and leasing services of cars and light motor vehicles 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.