18 March 2024

Services Sector Price Index (SSPI). Base 2015

Fourth Quarter 2023. Provisional data

Main results

Advertising prices registered an annual rate of -0.5% in the fourth quarter, 7.4 points below that of the previous quarter.
The annual rate of Passenger air transport increased by 1.6 points, reaching -0.7%.

More information

The annual variation of prices for services decreased in six out of the 15 activities for which indices are calculated in the fourth quarter, increased in six, and remained stable in the remaining three.

The activities where the annual rate registered the greatest decreases compared to the third quarter of 2023 were:

Advertising, with an annual variation of -0.5%, 7.4 points below the figure of the previous quarter, due to the fact that the prices of this activity increased less than in the fourth quarter of 2022.
Employment-related activities, which registered an annual rate of 2.1%, seven tenths below that of the previous quarter, due to a decrease in the prices of this activity, compared to the increase during the same quarter of 2022.

In turn, among the activities whose annual rate increased with respect to the previous quarter, those worth highlighting are:

Passenger air transport, whose variation increased by 1.6 points and stood at -0.7%. This evolution occurred due to the fact that the decrease in the prices of this activity was less than that registered in the fourth quarter of 2022.
Telecommunications, which increased its rate by 1.3 points, reaching 4.3%, due to the increase in the prices of this activity while they decreased during the same quarter of 2022.

Annual rate of the Services Sector Price Index. Fourth quarter 2023

CNAE Activities. Percentage

{
    "mode": "chart",
    "type": "barrashorizontalesprensa",
    "width": "170mm",
    "height": "150mm",
    "legend": true,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "4Q 2023"
        },
        {
            "label": "3Q 2023"
        }
    ],
    "ticks": [
        "Advertising",
        "Employment-related activities",
        "Sea and coastal freight transport",
        "Market research",
        "Cleaning activities",
        "Computer programming and \n consultancy activities",
        "Architectural and engineering activities; \n technical testing and analysis",
        "Legal and economic advisory",
        "Warehousing and storage",
        "Information service activities",
        "Cargo handling",
        "Postal and courier activities",
        "Security activities",
        "Telecommunications",
        "Scheduled passenger air transport"
    ],
    "values": [
        [
            "-0.5",
            "2.1",
            "-2.9",
            "2.7",
            "0.7",
            "2.3",
            "1.3",
            "2.0",
            "3.8",
            "2.6",
            "3.8",
            "1.5",
            "3.3",
            "4.3",
            "-0.7"
        ],
        [
            "6.9",
            "2.8",
            "-2.5",
            "2.9",
            "0.8",
            "2.4",
            "1.3",
            "2.0",
            "3.8",
            "2.5",
            "3.6",
            "1.1",
            "2.6",
            "3",
            "-2.3"
        ]
    ],
    "ratioMargen": 0.25,
    "angleTick": "0",
    "angleTag": "0",
    "colors": [
        "#457E76",
        "#A45C0A",
        "#0071AD",
        "#756F0F",
        "#C33C9D",
        "#677746"
    ],
    "config": {
        "marcaTick": {
            "color": "#9e1834"
        }
    }
}

Quarterly evolution of the prices of services

The greatest price increases in the fourth quarter of 2023 as compared with the third quarter occurred in Advertising (6.0%) and Telecommunications (1.2%).

On the other hand, the greatest decreases were registered in Air passenger transport (–7.9%) and Sea and coastal freight water transport (–0.4%).

Quarterly rate of the Services Sector Price Index. Fourth quarter 2023

CNAE Activities. Percentage

{
    "mode": "chart",
    "type": "barrashorizontalesprensa",
    "width": "170mm",
    "height": "120mm",
    "legend": false,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Quarterly rate (%)"
        }
    ],
    "ticks": [
        "Scheduled passenger air transport",
        "Sea and coastal freight transport",
        "Employment-related activities",
        "Market research",
        "Warehousing and storage",
        "Cleaning activities",
        "Architectural and engineering activities; \n technical testing and analysis",
        "Legal and economic advisory",
        "Information service activities",
        "Postal and courier activities",
        "Cargo handling",
        "Computer programming and \n consultancy activities",
        "Security activities",
        "Telecommunications",
        "Advertising"
    ],
    "values": [
        [
            "-7.9",
            "-0.4",
            "-0.1",
            "-0.1",
            "0.0",
            "0.1",
            "0.1",
            "0.1",
            "0.1",
            "0.1",
            "0.1",
            "0.2",
            "0.8",
            "1.2",
            "6.0"
        ]
    ],
    "ratioMargen": 0.25,
    "angleTick": "0",
    "angleTag": "0",
    "colors": [
        "#457E76",
        "#A45C0A",
        "#0071AD",
        "#756F0F",
        "#C33C9D",
        "#677746"
    ],
    "config": {
        "marcaTick": {
            "color": "#9e1834"
        }
    }
}

Base change

The INE publishes today the last data on the Services Sector Price Index in base 2015. The new 2021 base will incorporate relevant changes, among which stand out the updating of weights and the sample, the change in criteria for the prices considered for the calculation of the index (prices of services provided to both companies and households, and not only to companies), as well as the expansion of the number of activities disseminated and the calculation of an overall index at the national level and for sections and divisions.

Reviews and data updates

The INE has updated today the IPS data for the last four quarters, making the data for the fourth quarter of 2022 final. All results of this operation are available on INEBase.

Methodological note

The Services Sector Price Indices (SSPI), which are published on a quarterly basis, aim to measure the evolution of the prices of services provided by companies operating in the services sector in Spain, from the supply side (producer's point of view). The prices considered for the calculation are those of the services provided to companies (business segment).

The sectors for which the SSPI are calculated are those included in Regulation (EC) No. 1158/2005 of the European Parliament and of the Council of 6 July 2005 concerning short-term statistics.

Type of survey:: quarterly continuous survey.
Base year:: 2015.
Reference period of the weightings:: the year preceding the current year.
Population scope:: services companies.
Sample size:: around 850 companies and 111 products.
Number of observations:: approximately 7,000 quarterly prices.
General calculation method:: Laspeyres' Chain Index.
Collection method:: internet (IRIA system), e-mail, fax, telephone or postal mail.

For more information, you can access the methodology and the standardised methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information on Quality at INE and the Code of Best Practices.

For further information see

Official INE account on @es_ine

All press releases at:: www.ine.es/en/prensa/prensa_en.htm
Press office:: (+34) 91 583 93 63 / 94 08 – gprensa@ine.es
Information area:: (+34) 91 583 91 00 – www.ine.es/infoine/?L=1