Producer Price Index for Services

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Prices and Consumption, Economic statistics
Nicklas Elversøe
+45 39 17 31 42

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Producer Price Index for Services 2023

The purpose of these statistics, is to analyze price trends in the first stage of commercial transaction of services, i.e. producers' selling prices to other producers (business to business), ex VAT. These statistics have been compiled since 2006.

Statistical presentation

The Producer Price Index for Services is a quarterly measurement of service prices relating to the first commercial transaction (business to business), for the domestic market and export. The statistics contains a number of service price indices in different industries, e.g. price indices for transport services, consultancy services and cleaning services etc.

Statistical processing

Approx. 1.700 prices are collected quarterly from selected companies in Denmark in order to calculate these indices. Prices are collected through an electronic questionnaire. The prices are automatically validated during the collecting process and changes that are greater than a predetermined threshold value, are checked manually by the staff. The Price indices are calculated in a hierarchical system, where the first calculation is made for the most detailed industries, i.e. elementary indices. These elementary indices are calculated based on a number of basic prices, as geometric Jevons Indices. The elementary indices are subsequently weighted together as aggregated price indices. These are calculated as arithmetic Laspeyres indices.

Relevance

The Producer Price Index for Services serves as a deflator, key economic indicator and a contract regulation tool. The primary users of the statistics are the Danish National Accounts plus an array of public and private sector decision-makers. The statistics meet all the requirements of the EU in terms of industry coverage, aggregation level, frequency and publication date, etc.

Accuracy and reliability

The prices covered by the data collection have a direct coverage of approximately 70 percent of total revenue within the selected services. The weight base also covers the main part of all trade in the first turnover, within the demarcation of the statistics, and there is constant monitoring of the quality of the sample. The sample is not extracted simply randomly, so no measure of sample error is able to be produced.

Only final figures are published.

In general, the producer price index for services is not assessed to have increased uncertainty as a result of Covid-19, as the data collection and thus the lapse has been largely unchanged as Follow of the crisis. But a single industry has been affected, which you can read more about less than 5.3 other uncertainty.

Timeliness and punctuality

These statistics are published quarterly, approx. 1,5 months after the end of the reference period, as far as possible on the 15th of the month or the first business day thereafter. Publications are released on time, as stated in the release calendar.

Comparability

The Producer Price Index for Services can be found as a time series from 2006 to present. The statistic follows international standards and is therefore comparable with similar statistics from other European countries.

Accessibility and clarity

These statistics can be found in the StatBank, under the subject Producer Price Index for Services. For further information, go to the subject page.