Producer Prices for Services in Finland Rise by 4.7% YoY in Q1 2023: Statistics Finland

According to Statistics Finland, the producer price index for services increased by 4.7% year-on-year in Q1 of 2023, and by 0.9% compared to the previous quarter. The rise in prices was mainly caused by higher prices of transport services, food and beverage serving services, and rental and operating services of own or leased real estate. The increase in producer prices for services was curbed by lower prices of business and other management consulting services and telecommunications services compared to Q1 of 2022. The weight structure of the producer price indices for services was updated to reflect the structure of the 2022 economy.