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CSO statistical release, , 11am

Services Producer Price Index

Experimental (Selected Services)
Quarter 2 2018

Price Index (Year 2015=100)% Quarterly change% Annual change
Q4 2017105.50.2%4.6%
Q1 2018107.01.5%5.1%
Q2 2018106.8-0.3%4.6%

Services Producer Prices up 4.6% in the year to Quarter 2 2018

Services Producer Price Index
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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 2 2018, as measured by the experimental SPPI, were on average 4.6% higher in the year when compared with the same period last year.

The most notable changes in the year were: Computer Programming and Consultancy (+7.0%), Warehousing, Storage and Cargo Handling (+5.9%), Postal and Courier (+4.8%) and Security and Investigation (+3.9%).

Services prices decreased by 0.3% in the quarter.  This compares with an increase of 1.5% recorded in Q1 2018.

The most notable quarterly price changes were: Air Transport (-5.5%), Employment and Human Resource Activities (-1.2%), Legal, Accounting, Public Relations and Business Management Consultancy (-0.1%) and Sea and Coastal Transport (+4.7%).