|Price Index (Year 2010=100)||% Quarterly change||% Annual change|
The experimental Services Producer Price Index (SPPI) measures changes in the average prices charged by domestic service producers to other businesses for a selected range of services. In most cases these services are provided to business customers only and so individual price indices should not be considered indicative of more general price trends in the economy. The index covers transaction costs from business to business and excludes consumers who are covered in the Consumer Price Index (CPI).
The individual price indices are aggregated together to create a “service industry” index that is limited in coverage. The indices are still under development and may be subject to methodological improvement. Figures should therefore be treated as provisional and subject to revision. These indices are being published to engage users in the ongoing development of the SPPI methodology.
Services prices in Quarter 4 2017, as measured by the experimental SPPI, were on average 4.2% higher in the year when compared with the same period last year.
The most notable changes in the year were: Postal and Courier (+9.1%), Air Transport (+7.2%), Computer Programming and Consultancy (+6.0%) and Sea and Coastal Transport (-8.5%).
Services prices increased by 0.2% in the quarter. This compares with an increase of 2.1% recorded in Q3 2017.
The most notable quarterly price changes were: Warehousing, Storage and Cargo Handling (+2.9%), Employment and Human Resource Activities (+2.4%), Sea and Coastal Transport (+2.1%) and Security and Investigation (-0.4%).