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Release: Services Producer Price Indices, Quarter 2 2012

Released: 22 August 2012 Next edition: 21 November 2012

Contact

Liam Murray

Business Prices

ppi@ons.gsi.gov.uk

Telephone: +44 (0)1633 455811

Categories: Economy, Prices, Output and Productivity, Price Indices and Inflation, Services Producer Price Indices

Frequency of release: Quarterly

Language: English

Geographical coverage: UK

Geographical breakdown: UK and GB

Survey name(s): Services Producer Price Index (SPPI)

  • The net sector aggregate of selected SPPIs rose 1.0 per cent in the 12 months to the second quarter of 2012, compared with a rise of 1.6 per cent in the first quarter of 2012. This is the lowest annual rate since the fourth quarter of 2009, when the index rose 0.2 per cent.

  • Between the first and second quarter of 2012 the net sector aggregate of selected SPPIs rose 0.4 per cent.

  • The gross sector aggregate of selected SPPIs rose 0.7 per cent in the 12 months to the second quarter of 2012, compared with a rise of 1.1 per cent in the first quarter of 2012. This is the lowest annual rate since the fourth quarter of 2009, when the index rose 0.6 per cent.

  • Between the first and second quarter of 2012 the gross sector aggregate of selected SPPIs rose 0.4 per cent.

The Services Producer Price Index (SPPI) 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 a 'service industry' SPPI with limited coverage.

The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics.

Designation can be broadly interpreted to mean that the statistics:

  • meet identified user needs;
  • are well explained and readily accessible;
  • are produced according to sound methods; and
  • are managed impartially and objectively in the public interest.

Once statistics have been designated as National Statistics it is a statutory requirement that the Code of Practice shall continue to be observed.

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