Services producer prices - Q1 2024

With the release of the first quarter 2024 data and on the occasion of the transition to the new reference base 2021=100, Istat expands the statistical information available for the analysis of the dynamics of service producer prices increasing the sectoral coverage of Business-to-Business (BtoB) services producer price indices to date produced. At the same time, Istat starts the dissemination of Business-to-All (BtoAll) services producer price indices – which refer to total market, business and consumer – required by the European Regulations on business statistics No. 2019/2152 and 2020/1197. Details on innovations are available in the Methodological note (page 6).

In the first quarter 2024, services producer prices on business market increased by 1.1%, compared with the previous quarter, and by 2.6%, compared to the same quarter of the previous year.

Transportation and storage (+2.9%) recorded the highest increase on quartely basis, mainly due to prices of Water transport (+5.6%) and of Warehousing and support activities for transportation (+5.0%). Producer prices of Transportation and storage increased by 4.2% on annual basis (up from +1.0% in the fourth quarter 2023).

In the first quarter 2024, producer prices of Information and communication fell slightly (-0.1%), compared with the previous quarter, and rose by 1.4% on annual basis.

Producer prices of Professional, scientific and technical activities stayed stable on quarterly basis and increased by 2.0%, compared to the fourth quarter 2023.

Producer prices of Administrative and support service activities increased by 1.1% on quarterly basis and by 1.9% on annual basis.

In the first quarter 2024, services producer prices on total market (business and consumer) increased by 1.0%, compared with the previous quarter, and by 2.8% on annual basis.