Informations Rapides ·
30 August 2024 · n° 220
In Q2 2024, services producer prices rose by 1.5% over a quarter and by 2.3% over
a year Services producer price indices - second quarter 2024
In the second quarter of 2024, producer prices of services accelerated over a quarter (+1.5% after +0.7%). This was the case for prices of services sold to home businesses which rose for the thirteenth consecutive quarter (+1.3% after +0.5%), as for those of services sold to households in France (+1.7% after +0.4%) and those sold on foreign markets (+2.5% after +2.2%).
Over a year, overall producer prices of services accelerated also in the second quarter of 2024 (+2.3% after +2.0% in the first quarter of 2024). They were 9.7% above their Q2 2021 level.
- All markets: +1.5%
- Services sold to home businesses: +1.3%
- Rebound of prices for accommodation and food services and prices of information and communication services
- Slight rise of prices for administrative and support service activities
- New increase of prices of transportation and storage services and those of professional, scientific and technical activities
- Deceleration of prices for real estate activities
- Services sold to households in France: +1.7%
- Services sold on foreign markets: +2.5%
- Revisions
- For further information
tableauProducer price indices for all services
| Export | Home businesses | Households in France | All markets | |
|---|---|---|---|---|
| 2024-Q2 | 103.8 | 109.8 | 109.1 | 108.9 |
| 2024-Q1 | 101.3 | 108.4 | 107.3 | 107.3 |
| 2023-Q4 | 99.1 | 107.9 | 106.9 | 106.6 |
| 2023-Q3 | 100.4 | 107.4 | 108.3 | 106.8 |
| 2023-Q2 | 100.6 | 107.2 | 107.6 | 106.5 |
| 2023-Q1 | 100.5 | 105.9 | 105.7 | 105.2 |
| 2022-Q4 | 104.7 | 105.2 | 105.0 | 105.1 |
| 2022-Q3 | 111.8 | 104.5 | 106.3 | 105.8 |
| 2022-Q2 | 110.4 | 103.7 | 103.5 | 104.4 |
| 2022-Q1 | 106.2 | 101.8 | 101.0 | 102.1 |
| 2021-Q4 | 104.8 | 101.0 | 100.7 | 101.4 |
| 2021-Q3 | 103.2 | 100.2 | 101.5 | 100.9 |
| 2021-Q2 | 97.6 | 99.6 | 99.3 | 99.3 |
| 2021-Q1 | 94.3 | 99.2 | 98.5 | 98.5 |
graphiqueProducer price indices for all services
- Source: INSEE
All markets: +1.5%
In the second quarter of 2024, producer prices of services accelerated over a quarter (+1.5% after +0.7%). This was the case for prices of services sold to home businesses which rose for the thirteenth consecutive quarter (+1.3% after +0.5%), as for those of services sold to households in France (+1.7% after +0.4%) and those sold on foreign markets (+2.5% after +2.2%).
Over a year, overall producer prices of services accelerated also in the second quarter of 2024 (+2.3% after +2.0% in the first quarter of 2024). They were 9.7% above their Q2 2021 level.
tableauServices producer price indices for all markets (BtoAll*), by section
| French classification of activities – NAF rév. 2 | Weight | Indices | Change in % | |
|---|---|---|---|---|
| 2024 Q2 | Q/Q-1 | Q/Q-4 | ||
| All services | 1,000 | 108.9 | 1.5 | 2.3 |
| H: transportation and storage services | 199 | 110.8 | 2.7 | 3.5 |
| I: accommodation and food service activities | 94 | 114.7 | 2.5 | 2.0 |
| J: information and communication services | 210 | 103.6 | 1.5 | 1.3 |
| L: real estate activities | 138 | 107.6 | 1.0 | 2.6 |
| M: professional, scientific and technical activities | 183 | 107.5 | 0.6 | 1.7 |
| N: administrative and support service activities | 169 | 112.4 | 1.2 | 2.8 |
- *BtoAll: business to all
- The sector S "Other services" is not displayed due to its low economic weight.
- Source: INSEE
Services sold to home businesses: +1.3%
In the second quarter of 2024, producer prices of services sold to home businesses accelerated over a quarter (+1.3% after +0.5%) and continued to rise over a year (+2.4% as in a first quarter).
tableauServices producer price indices: services sold to home businesses (BtoB*), by section
| French classification of activities – NAF rév. 2 | Weight | Indices | Change in % | |
|---|---|---|---|---|
| 2024 Q2 | Q/Q-1 | Q/Q-4 | ||
| All services | 1,000 | 109.8 | 1.3 | 2.4 |
| H: transportation and storage services | 178 | 112.7 | 1.3 | 2.5 |
| I: accommodation and food service activities | 31 | 118.2 | 3.5 | 1.8 |
| J: information and communication services | 250 | 105.0 | 1.6 | 2.2 |
| L: real estate activities | 102 | 110.8 | 1.3 | 3.5 |
| M: professional, scientific and technical activities | 210 | 107.7 | 0.7 | 2.0 |
| N: administrative and support service activities | 218 | 112.0 | 1,0 | 2.6 |
- *BtoB: business to business
- The sector S "Other services" is not displayed due to its low economic weight.
- Source: INSEE
Rebound of prices for accommodation and food services and prices of information and communication services
In the second quarter of 2024, prices of accommodation and food services rebounded over a quarter (+3.5% after -2.3%), mainly due to the sharp seasonal rise in prices for hotels and similar accommodation services (+9.1% after -8.2%). Over a year, prices of accommodation and food services continue to slowed down (+1.8% after +2.2% in first quarter of 2024 and +5.8% in the fourth quarter of 2023). They were 19.3% above their Q2 2021 level.
In the second quarter of 2024, prices of information and communication services also rebounded over a quarter (+1.6% after -0.6%), due to the sharp seasonal rise in television programming and broadcasting service prices (+31.1% after -17.1%) linked to the increase in spot prices for the European soccer championship and prices of radio broadcasting (+18.8% after -17.6%). Over a year, prices for information and communication services accelerated (+2.2%, after +1.8% in the first quarter of 2024). These prices were 4.7% above their Q2 2021 level.
Slight rise of prices for administrative and support service activities
In the second quarter of 2024, the prices of administrative and support services accelerated over a quarter (+1.0% on a quarter after +0.9%). Over a year, they continued to decelerate (+2.6% after +3.2% in the first quarter 2024 and +4.0% in the fourth quarter 2023). They were 12.3% above their Q2 2021 level.
New increase of prices of transportation and storage services and those of professional, scientific and technical activities
In the second quarter of 2024, prices of transportation and storage services continued to accelerate over a quarter (+1.3% as in the first quarter), driven in particular by the prices of service freight transport by road (+0.4% after +0.9%). Over a year, they accelerated again (+2.5% after +1.6% in the second quarter of 2024 and +1.2% in the fourth quarter of 2023). They were 14.4% above their Q2 2021 level.
In the second quarter of 2024, prices of professional, scientific and technical services continued to rise over a quarter (+0.7% as in the first quarter), driven in particular by the rise of prices of media representation (+13.0% after -7.3%). Over a year, prices of professional, scientific and technical services decelerated slightly in the second quarter of 2024 (+2.0% after +2.1% in the first quarter of 2024 and +2.3% in the fourth quarter of 2023). They were 7.8% above their Q2 2021 level.
Deceleration of prices for real estate activities
In the second quarter of 2024, prices of real estate services decelerated over a quarter (+1.3% after +1.5%), due in particular to renting and operating of own or leased real estate (+1.4% after +1.6%). Over a year, prices for real estate activities continue to rise at the same rate (+3.5% as in the first quarter of 2024). These prices were 10.8% above their Q2 2021 level.
tableauProducer price indices of services sold to French businesses
| H: transp. and storage | I: accommod. and food | J: info. and comm. | L: real estate act. | M: prof., scient. and tech. | N: adm. and support | |
|---|---|---|---|---|---|---|
| 2024-Q2 | 112.7 | 118.2 | 105.0 | 110.8 | 107.7 | 112.1 |
| 2024-Q1 | 111.3 | 114.2 | 103.3 | 109.4 | 106.9 | 110.9 |
| 2023-Q4 | 109.9 | 116.9 | 103.9 | 107.8 | 106.2 | 109.9 |
| 2023-Q3 | 110.9 | 115.8 | 102.1 | 107.1 | 105.8 | 109.6 |
| 2023-Q2 | 110.0 | 116.1 | 102.7 | 107.1 | 105.6 | 109.2 |
| 2023-Q1 | 109.5 | 111.7 | 101.5 | 105.7 | 104.7 | 107.5 |
| 2022-Q4 | 108.6 | 110.5 | 102.1 | 104.9 | 103.8 | 105.7 |
| 2022-Q3 | 109.0 | 108.5 | 101.2 | 104.4 | 102.8 | 104.7 |
| 2022-Q2 | 107.6 | 106.0 | 101.3 | 103.4 | 102.4 | 103.5 |
| 2022-Q1 | 104.0 | 101.3 | 100.5 | 102.4 | 101.3 | 101.7 |
| 2021-Q4 | 102.2 | 101.5 | 100.6 | 100.5 | 100.8 | 100.7 |
| 2021-Q3 | 101.3 | 101.6 | 99.3 | 99.9 | 99.7 | 100.2 |
| 2021-Q2 | 98.5 | 99.1 | 100.3 | 100.0 | 99.9 | 99.7 |
| 2021-Q1 | 97.9 | 97.9 | 99.9 | 99.5 | 99.6 | 99.5 |
graphiqueProducer price indices of services sold to French businesses
- Source: INSEE
Services sold to households in France: +1.7%
In the second quarter of 2024, producer prices of services sold to households in France accelerated over a quarter (+1.7% after +0.4%), notably due to the rise of prices for transportation and storage services (+4.4% after +0.3%) and prices of accommodation and food services (+2.2% after -0.1%). Prices of administrative and support services also rose (+2.6% after +1.2%) as did prices for real estate services (+0.8% as in the first quarter). Prices for information and communication services accelerated (+1.0% after +0.4%). Conversely, those for professional, scientific and technical services went down (-0.8% after -1.0%), driven by prices of legal activities.
Producer prices of services sold to households in France continued to decelerate over a year in the second quarter of 2024 (+1.4% after +1.5%) and were 9.9% above their Q2 2021 level.
tableauServices producer price indices: services sold to households in France (BtoC*), by section
| French classification of activities – NAF rév. 2 | Weight | Indices | Change in % | |
|---|---|---|---|---|
| 2024 Q2 | Q/Q-1 | Q/Q-4 | ||
| All services | 1,000 | 109.1 | 1.7 | 1.4 |
| H: transportation and storage services | 136 | 120.5 | 4.4 | 1.9 |
| I: accommodation and food service activities | 74 | 112.2 | 2.2 | 2.2 |
| J: information and communication services | 32 | 98.8 | 1.0 | -1.3 |
| L: real estate activities | 74 | 104.8 | 0.8 | 1.7 |
| M: professional, scientific and technical activities | 19 | 106.1 | -0.8 | -1.6 |
| N: administrative and support service activities | 14 | 112.4 | 2.6 | 5.0 |
- *BtoC: business to consumer
- The sector S "Other services" is not displayed due to its low economic weight.
- Source: INSEE
Services sold on foreign markets: +2.5%
In the second quarter of 2024, producer prices of exported services accelerated (+2.5%, after +2.2%), due to the rebound of prices of information and communication services (+0.8% after -3.1%) and the rise of those of administrative and support services (+1.1% after a stability in the first quarter of 2024). Prices of transportation and storage services (+5.3% after +7.5%) and prices of professional, scientific and technical services slowed down (+0.4% after +0.9%).
Over a year, producer prices for exported services rose in the second quarter of 2024 (+3.2% after +0.8% in the first quarter). These increase follow five consecutive quarters of decline. Production prices for exported services were still 6.4% above their Q2 2021 level.
tableauServices producer price indices: services sold on foreign markets (BtoE*), by section
| French classification of activities – NAF rév. 2 | Weight | Indices | Change in % | |
|---|---|---|---|---|
| 2024 Q2 | Q/Q-1 | Q/Q-4 | ||
| All services | 1,000 | 103.8 | 2.5 | 3.2 |
| H: transportation and storage services | 417 | 91.9 | 5.3 | 5.6 |
| J: information and communication services | 168 | 102.0 | 0.8 | -1.4 |
| M: professional, scientific and technical activities | 254 | 107.1 | 0.4 | 2.2 |
| N: administrative and support service activities | 152 | 114.0 | 1.1 | 2.4 |
- *BtoE: business to exports
- The sectors I "Accommodation and food services", L "Real estate activities" and S "Other services" are not displayed due to their low economics weights.
- Source: INSEE
Revisions
The variation of the producer price index for services sold on all markets between the fourth quarter 2023 and the first quarter 2024 is revised upwards by 0.1 points: it stands at +0.7%.
The major revisions to export service prices in the first quarter of 2024 are mainly due to the annual updating of the weights of the various branches.
tableauRevision of variations
| Services producer price indices | 2023 Q3 / 2023 Q2 | 2023 Q4 / 2023 Q3 | 2024 Q1 / 2023 Q4 |
|---|---|---|---|
| services sold to all markets (BtoAll) | // | // | 0.1 |
| - services sold to home businesses (BtoB) | // | // | -0.1 |
| - services sold to households in France (BtoC) | // | // | // |
| - exported services (BtoE) | -0.1 | // | 1.0 |
- //: unrevised evolution (after rounding)
- How to read it: the variation of the producer prices of services sold to home businesses between the fourth quarter of 2023 and the first quarter of 2024 has been revised by 0.1 points: it has been updated to 1.5%.
- Source: INSEE
For further information
Definition: Services producer prices indices (SPPI) measure the quarterly evolution of transaction prices, excluding VAT, of services sold by French businesses. They are calculated, by market and by product, based on the results of the survey “Observation of prices in industry and services” (Opise) operated by INSEE.
SPPI are calculated on four types of market segments:
- BtoB: business to business, corresponding to services sold to home businesses;
- BtoC: business to customer, corresponding to services sold to households in France;
- BtoE: business to exports, corresponding to services sold on foreign markets;
- BtoAll: business to all, corresponding to the aggregation of the three market segments BtoB, BtoC and BtoE.
Further information (methodological documentation, classification, etc.) is available by the “Documentation” tab on the web page of this publication.
Next publication: 29 November 2024 at 12.00 p.m.
Pour en savoir plus
Definition: Services producer prices indices (SPPI) measure the quarterly evolution of transaction prices, excluding VAT, of services sold by French businesses. They are calculated, by market and by product, based on the results of the survey “Observation of prices in industry and services” (Opise) operated by INSEE.
SPPI are calculated on four types of market segments:
- BtoB: business to business, corresponding to services sold to home businesses;
- BtoC: business to customer, corresponding to services sold to households in France;
- BtoE: business to exports, corresponding to services sold on foreign markets;
- BtoAll: business to all, corresponding to the aggregation of the three market segments BtoB, BtoC and BtoE.
Further information (methodological documentation, classification, etc.) is available by the “Documentation” tab on the web page of this publication.
Next publication: 29 November 2024 at 12.00 p.m.