Services Producer Price Indices – First quarter 2010

Simon Woodsford
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Simon Woodsford: Office for National Statistics

Economic & Labour Market Review, 2010, vol. 4, issue 7, 79-81

Abstract: SUMMARYThe services producer price indices (SPPI) replaced the former corporate services price index (CSPI). The SPPI's are primarily a suite of individual price indices that provide information on price change for a limited range of service industries. Each SPPI captures quarterly changes in the price received for services provided by UK businesses to other UK businesses and Government. These individual price indices are also aggregated together to create an ‘aggregate’ SPPI with limited coverage. This aggregate SPPI is not representative of the whole service sector.This article shows the effects some industries are having on the aggregate SPPI. The data produced are used internally by the Office for National Statistics as a deflator for the Index of Services and the quarterly measurement of gross domestic product. The index is also used by HM Treasury and the Bank of England to help monitor inflation in the economy.In May 2010 the UK Statistics Authority Assessment team accredited the SPPI as a new National Statistics. Therefore, this will be the last SPPI article published in Economic & Labour Market Review.

Date: 2010
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