Bank of Japan : Services Producer Price Index (Jan.)

Bank of Japan

Research and Statistics Department

FOR RELEASE 8:50 A.M.

Tuesday, February 25, 2020

Monthly Report on the Services Producer Price Index

( Preliminary Figures for January 2020 )

The Services Producer Price Index (All items ) rose 2.3 percent from the previous year.

									CY2015 = 100, %
				All items
								(Ref.) All items
							(excluding International transportation)
			Index	Yearly	Monthly		Index		Yearly		Monthly
			change	change			change		change
	CY	2017	101.0	0.7	-		101.1		0.7		-
		2018	102.2	1.2	-		102.2		1.1		-
		2019	103.3	1.1	-		103.3		1.1		-
		2018/ Dec.	102.8	1.1	0.0		102.8		1.1		0.0
		2019/ Jan.	102.3	1.1	-0.5		102.3		1.0		-0.5
		Feb.	102.5	1.0	0.2		102.5		1.0		0.2
		Mar.	103.2	1.1	0.7		103.2		1.1		0.7
		Apr.	103.1	1.0	-0.1		103.1		0.9		-0.1
		May	102.9	1.0	-0.2		102.9		1.0		-0.2
		June	102.7	0.7	-0.2		102.8		0.8		-0.1
		July	102.9	0.6	0.2		102.9		0.6		0.1
		Aug.	102.8	0.5	-0.1		102.8		0.5		-0.1
		Sep.	102.8	0.5	0.0		102.8		0.6		0.0
		Oct.	104.8	2.1	1.9		104.8		2.1		1.9
		Nov.	105.0	2.1	0.2		105.0		2.1		0.2
		Dec.	105.0	2.1	0.0	r	104.9	r	2.0	r	-0.1
		2020/ Jan.	104.7	2.3	-0.3		104.7		2.3		-0.2
	Preliminary Figures

Notes: 1. "International transportation" consists of the following 5 items (the same applies to the following pages) :

Notes: 1. "International air passenger transportation," "Ocean freight transportation (except Ocean tankers)," "Ocean tankers,"

Notes: 1. "International air freight transportation," and "International mail services."

Notes: 2. r: revised figures

( Developments in Price Index )

108	(CY2015 = 100)
		Services Producer Price Index
106		Services Producer Price Index
		Producer Price Index
104
102
100
98
96
94	CY 2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
						1

(All items and the details contributing to the monthly differences of yearly changes in January)

	Monthly	Yearly change (%)
	difference of
	yearly changes	Dec.	Jan.
	(%point)
All items	0.2	2.1	2.3

▽Details contributing to the monthly differences of yearly changes in January

		Monthly	Yearly change (%)
	Major groups・Subgroups	differences of	Items
	contribution
		to yearly changes	Dec.	Jan.
		(%point)
＋: Transportation and postal activities	0.08	2.4	2.9
	＋: Ocean freight transportation	0.09	4.2	17.0	Ocean freight transportation (except Ocean tankers)*, Ocean tankers*
	Coastal and inland water freight
	＋: transportation	0.01	-0.2	1.9	RORO ships, Coastal and inland water freighters (except RORO ships)
	＋: International air freight transportation	0.01	-24.6	-19.5	International air freight transportation*
	－: Road freight transportation	-0.02	3.4	3.1	Motor freight transportation (Metal and machinery products), Motor
	freight transportation (Mineral and chemical products)
	－: Domestic air passenger transportation	-0.01	2.9	1.5	Domestic air passenger transportation
＋: Other services	0.08	2.4	2.6
	＋: Hotels	0.02	-5.6	-3.9	Hotels
	＋: Waste disposal	0.02	2.8	3.9	Industrial waste disposal
	＋: Motor vehicle repair and maintenance	0.01	1.9	2.5	Motor vehicle maintenance (accident repair)
	Civil engineering and architectural
	＋: services	0.01	4.1	4.4	Architectural design services
	＋: Employment services	0.01	3.9	5.2	Employment services
＋: Information and communications	0.07	1.8	2.1
	＋: Mobile telecommunications services	0.07	-6.3	-2.0	Mobile telecommunications services
	＋: Software development	0.01	3.2	3.4	Custom software (except Embedded software)
＋: Real estate services	0.03	3.2	3.4
	＋: Other space rental	0.02	1.8	2.3	Sales space rental
	＋: Office space rental	0.01	5.0	5.2	Office space rental (Tokyo area)
	Real estate agency and management
	＋: services	0.01	3.1	3.3	Real estate agency and management services
＋: Finance and insurance	0.02	1.9	2.2
	Property and casualty insurance
	＋: services	0.01	0.2	1.0	Voluntary motor vehicle insurance
	＋: Financial services (commission)	0.01	2.6	2.8	Money transmission and receipt
＋: Advertising services	0.01	-1.2	-1.1
	＋: Newspaper advertising	0.02	-3.8	1.6	Newspaper advertising
	＋: Magazine advertising	0.01	-5.9	6.5	Magazine advertising
	＋: Other advertising services	0.01	1.8	2.8	Advertising in traffic facilities, Free newspaper and magazine advertising
	－: Television advertising	-0.03	-0.9	-2.5	Television advertising (program sponsorships)
	－: Internet advertising	-0.01	-4.0	-4.6	Internet advertising
＋: Leasing and rental	0.01	1.5	1.5
	＋: Leasing	0.01	1.3	1.5	Medical equipment leasing, Industrial machinery leasing, Leasing of
	machinery for civil engineering and construction

▽Contribution of each Major group to the yearly change in January

	Major groups	Contribution to	Subgroups
	yearly change**
		(%point)
All items	2.30
	Other services	0.92	Worker dispatching services, Civil engineering and architectural services, Building
	maintenance
	Information and communications	0.47	Software development, Information processing and information providing services, Internet
	based services
	Transportation and postal activities	0.46	Road freight transportation, Ocean freight transportation, Railroad passenger transportation
	Real estate services	0.33	Office space rental, Other space rental, Real estate agency and management services
	Leasing and rental	0.12	Leasing, Rental
	Finance and insurance	0.11	Financial services (commission), Property and casualty insurance services
	Advertising services	-0.05	Internet advertising, Television advertising

Notes: 1. "Monthly differences of yearly changes" is obtained by subtracting yearly changes of previous month from those of p resent month.

Notes: 2. * : "International transportation."

Notes: 3. ** : The figure of "All items" is yearly change and not contribution to yearly change.

2

Services Producer Price Index

( Preliminary Figures for January 2020 )

( Indexes of Major Groups and Subgroups )							CY2015 = 100, %
		Weight	Index	Previous	Yearly	Previous	Monthly	Previous
		month	change	month	change	month
	All items	1,000.0	104.7	105.0	2.3		2.1	-0.3		0.0
	Finance and insurance	48.3	103.5	r 103.2	2.2	r	1.9	0.3	r	0.4
	Financial services (commission)	34.7	103.4	r 103.1	2.8	r	2.6	0.3	r	0.5
	Property and casualty insurance services	13.6	103.8	r 103.6	1.0	r	0.2	0.2	r	0.3
	Real estate services	94.5	107.4	107.9	3.4		3.2	-0.5		0.7
	Real estate agency and management services	23.9	108.6	108.6	3.3		3.1	0.0		0.3
	Office space rental	26.5	112.8	r 112.5	5.2	r	5.0	0.3	r	0.5
	Other space rental	44.1	103.5	r 104.7	2.3	r	1.8	-1.1	r	1.0
	Transportation and postal activities	158.0	106.0	106.4	2.9		2.4	-0.4		0.5
	Railroad passenger transportation	19.8	102.9	102.9	2.7		2.7	0.0		1.0
	Road passenger transportation	9.7	103.2	103.3	2.5		2.2	-0.1		-1.6
	Water passenger transportation	0.3	102.9	103.1	3.0		3.2	-0.2		0.0
	International air passenger transportation	1.2	105.2	r 108.3	-3.0	r	-0.3	-2.9	r	-1.2
	Domestic air passenger transportation	6.0	95.4	107.3	1.5		2.9	-11.1		6.0
	Railroad freight transportation	0.9	110.1	109.0	7.4		7.3	1.0		-0.3
	Road freight transportation	55.0	110.4	110.8	3.1		3.4	-0.4		0.4
	Ocean freight transportation	7.6	114.5	110.3	17.0		4.2	3.8		3.2
	Coastal and inland water freight transportation	5.0	105.8	104.0	1.9		-0.2	1.7		0.0
	Marine cargo handling	7.4	100.9	100.9	0.7		0.7	0.0		0.0
	International air freight transportation	1.0	70.8	72.9	-19.5		-24.6	-2.9		-6.3
	Domestic air freight transportation	0.4	99.8	104.6	-3.1		-1.2	-4.6		6.4
	Warehousing and storage	13.0	101.1	101.1	1.2		1.2	0.0		0.0
	Packing for freight	6.3	103.0	103.0	2.6		2.6	0.0		0.0
	Toll roads	10.6	103.9	103.9	2.3		2.3	0.0		0.0
	Services relating to water transport	0.4	100.5	100.5	0.0		0.0	0.0		0.0
	Airport & air traffic control and services relating	3.9	105.0	105.0	1.9		1.9	0.0		0.0
	to air transport
	Postal services and mail delivery	9.5	109.3	109.3	1.7		1.7	0.0		0.0
	Information and communications	228.3	102.8	r 102.8	2.1	r	1.8	0.0	r	0.2
	Fixed telecommunications services	24.1	101.6	101.6	1.6		1.6	0.0		0.0
	Mobile telecommunications services	16.5	91.2	91.3	-2.0		-6.3	-0.1		0.0
	Access charges	16.2	96.8	96.8	-1.0		-1.0	0.0		0.0
	Broadcasting services	2.5	101.1	101.1	1.2		1.2	0.0		0.0
	Software development	75.0	107.1	r 107.0	3.4	r	3.2	0.1	r	0.1
	Information processing and information	54.1	102.2	102.2	2.3		2.3	0.0		0.3
	providing services
	Internet based services	19.6	104.2	r 103.8	2.5	r	2.8	0.4	r	0.6
	Video picture information production	8.0	100.7	100.7	2.0		2.0	0.0		0.0
	Newspapers	4.5	104.8	104.8	2.6		3.4	0.0		0.0
	Publishing	7.8	105.8	105.8	2.9		2.9	0.0		0.0
Note: r: revised figures						( Continued on the following page )

3

( Indexes of Major Groups and Subgroups )

CY2015 = 100, %

		Weight
	Leasing and rental	79.2
	Leasing	54.3
	Rental	24.9
	Advertising services	49.2
	Television advertising	19.2
	Newspaper advertising	4.1
	Magazine advertising	1.3
	Leaflet advertising	4.1
	Internet advertising	10.9
	Other advertising services	9.6
	Other services	342.5
	Sewage disposal	9.0
	Waste disposal	17.9
	Motor vehicle repair and maintenance	23.3
	Machinery repair and maintenance	42.9
	Legal and accounting services	38.1
	Other professional services	3.3
	Civil engineering and architectural services	29.8
	Commodity inspection, non-destructive testing	6.6
	and surveyor certification services
	Other technical services	19.8
	Employment services	5.6
	Worker dispatching services	41.1
	Training and development services	4.2
	Health and hygiene	6.9
	Building maintenance	49.0
	Security services	16.9
	Call centers	4.0
	Hotels	10.0
	Meal supply services	6.2
	Laundry services	7.9

Index	Previous	Yearly	Previous	Monthly	Previous
month	change	month	change	month
100.7	r 100.8	1.5	r	1.5	-0.1	r	-0.2
100.6	r 100.8	1.5	r	1.3	-0.2	r	0.1
100.9	100.8	1.7		1.8	0.1		-0.7
101.7	r 105.1	-1.1	r	-1.2	-3.2	r	-1.9
94.7	r 104.5	-2.5	r	-0.9	-9.4	r	-3.2
108.0	r 100.8	1.6	r	-3.8	7.1	r	-0.3
92.8	92.7	6.5		-5.9	0.1		-9.8
103.7	103.7	2.2		2.2	0.0		0.1
107.7	108.1	-4.6		-4.0	-0.4		-2.3
106.9	106.8	2.8		1.8	0.1		0.6
106.1	r 106.1	2.6	r	2.4	0.0	r	-0.4
101.9	101.9	1.9		1.9	0.0		0.5
106.9	105.8	3.9		2.8	1.0		0.0
103.2	102.5	2.5		1.9	0.7		0.0
103.4	r 103.4	1.4	r	1.4	0.0	r	-0.2
100.0	99.9	1.9		1.8	0.1		0.0
104.2	104.3	2.0		2.1	-0.1		0.0
117.2	r 117.0	4.4	r	4.1	0.2	r	-0.8
104.0	104.0	2.4		2.4	0.0		0.0
102.7	102.7	1.2		1.2	0.0		0.0
112.5	r 111.6	5.2	r	3.9	0.8	r	0.5
112.1	r 111.7	3.9	r	4.0	0.4	r	0.4
103.7	103.7	2.1		2.1	0.0		0.0
104.1	104.1	3.8		3.8	0.0		0.0
104.8	104.8	2.7		2.6	0.0		0.0
116.2	116.2	4.5		4.5	0.0		0.0
105.6	105.6	3.6		3.5	0.0		0.0
92.9	r 100.8	-3.9	r	-5.6	-7.8	r	-8.4
104.1	104.1	2.1		2.0	0.0		0.0
103.6	103.6	2.4		2.4	0.0		0.0

Note: r: revised figures
( References and Reference Indexes )								CY2015 = 100, %
		Weight	Index	Previous	Yearly	Previous	Monthly	Previous
		month	change	month	change	month
	All items (excluding International transportation)	989.5	104.7	r 104.9	2.3	r	2.0	-0.2	r	-0.1
	Transportation and postal activities	147.5	105.8		106.4	2.4		2.5	-0.6		0.4
	(excluding International transportation)
	International transportation	10.5	108.6		106.2	10.1		1.0	2.3		1.8
	Intellectual properties licensing (export)		92.6	r	92.2	0.3	r	-2.1	0.4	r	0.7
	Intellectual properties licensing (import)		87.1	r	87.0	0.3	r	-2.9	0.1	r	0.7

Note: r: revised figures

4

Indexes of Major Groups (Time-Series Data)

										CY2015 = 100, %
		All items		Finance and insurance	Real estate services	Transportation and postal
			activities
				Yearly			Yearly		Yearly			Yearly
				change			change		change			change
Weight	1,000.0		――	48.3		――	94.5	――	158.0		――
CY	2017	101.0		0.7	101.1		0.4	102.4	1.4	100.2		1.4
	2018	102.2		1.2	101.2		0.1	103.6	1.2	102.7		2.5
	2019	103.3		1.1	101.7		0.5	105.0	1.4	104.4		1.7
FY	2016	100.4		0.3	100.8		0.6	101.3	1.0	99.0		-0.7
	2017	101.3		0.9	101.1		0.3	102.7	1.4	100.6		1.6
	2018	102.4		1.1	101.2		0.1	103.8	1.1	103.2		2.6
2019/ Q1	102.7		1.1	101.3		0.2	103.9	0.7	103.3		2.1
	Q2	102.9		0.9	101.2		0.2	104.5	1.2	103.7		1.4
	Q3	102.8		0.5	101.3		0.1	104.5	0.6	104.5		1.0
	Q4	104.9		2.1	102.9		1.5	107.1	3.0	106.2		2.3
2018/ Dec.	102.8		1.1	101.3		0.2	104.6	0.9	103.9		2.3
2019/ Jan.	102.3		1.1	101.3		0.1	103.9	0.5	103.0		2.0
	Feb.	102.5		1.0	101.3		0.2	103.4	0.6	103.1		2.2
	Mar.	103.2		1.1	101.2		0.2	104.4	0.9	103.8		2.2
	Apr.	103.1		1.0	101.2		0.2	104.5	1.2	103.9		1.9
	May	102.9		1.0	101.2		0.1	104.6	1.3	103.7		1.3
	June	102.7		0.7	101.2		0.2	104.5	1.2	103.5		1.1
	July	102.9		0.6	101.3		0.1	104.7	0.8	104.4		1.0
	Aug.	102.8		0.5	101.3		0.1	104.5	0.4	104.9		0.8
	Sep.	102.8		0.5	101.3		0.0	104.2	0.6	104.1		1.0
	Oct.	104.8		2.1	102.8		1.4	106.2	2.5	106.3		2.2
	Nov.	105.0		2.1	102.8		1.4	107.1	3.2	105.9		2.2
	Dec.	105.0		2.1	103.2		1.9	107.9	3.2	106.4		2.4
2020/ Jan.	104.7		2.3	103.5		2.2	107.4	3.4	106.0		2.9
		Information and		Leasing and rental		Advertising services	Other services
		communications
				Yearly			Yearly		Yearly			Yearly
				change			change		change			change
Weight	228.3		――	79.2		――	49.2	――	342.5		――
CY	2017	100.2		0.1	99.1		-0.4	101.9	0.9	101.9		1.1
	2018	100.9		0.7	99.2		0.1	102.9	1.0	103.0		1.1
	2019	101.4		0.5	99.6		0.4	103.4	0.5	104.7		1.7
FY	2016	100.2		0.3	99.4		-0.7	101.5	1.5	101.0		0.8
	2017	100.3		0.1	99.1		-0.3	102.4	0.9	102.1		1.1
	2018	101.0		0.7	99.2		0.1	103.4	1.0	103.4		1.3
2019/ Q1	100.9		0.4	99.3		0.1	105.8	1.8	103.8		1.5
	Q2	101.0		-0.1	99.4		0.4	103.2	1.5	104.4		1.3
	Q3	101.0		-0.2	98.9		-0.2	99.7	-0.3	104.4		1.2
	Q4	102.8		1.8	100.9		1.5	105.0	-1.0	106.3		2.6
2018/ Dec.	101.0		0.8	99.3		0.2	106.4	0.1	103.6		1.4
2019/ Jan.	100.7		0.3	99.2		0.2	102.8	3.0	103.4		1.5
	Feb.	100.9		0.3	99.5		-0.1	102.4	0.5	103.8		1.5
	Mar.	101.0		0.5	99.2		0.2	112.3	2.1	104.1		1.5
	Apr.	100.9		-0.2	99.4		0.4	105.9	2.2	104.5		1.4
	May	101.1		0.1	99.6		0.5	101.5	1.8	104.5		1.5
	June	100.9		-0.2	99.2		0.3	102.3	0.6	104.2		1.1
	July	100.9		-0.2	99.0		-0.2	101.3	0.4	104.3		1.1
	Aug.	101.0		-0.3	98.8		-0.3	97.1	-0.1	104.6		1.3
	Sep.	101.0		-0.2	99.0		0.0	100.7	-1.1	104.4		1.2
	Oct.	103.0		2.0	100.8		1.3	102.8	-1.3	106.4		2.8
	Nov.	102.6		1.6	101.0		1.5	107.1	-0.5	106.5		2.7
	Dec.	102.8		1.8	100.8		1.5	105.1	-1.2	106.1		2.4
2020/ Jan.	102.8		2.1	100.7		1.5	101.7	-1.1	106.1		2.6

Note: "Q1" = January to March, "Q2" = April to June, "Q3" = July to September, and "Q4" = October to December

The next monthly report will be released on Thursday, March 26, 2020.

5

Reference: Wholesale Services Price Index

( Preliminary Figures for the Fourth Quarter of CY2019 )

CY2015 = 100, %

			Weight	Index		Previous	Yearly		Previous	Quarterly		Previous
				quarter	change		quarter	change		quarter
		All items including Wholesale	1,239.6	104.4		102.2	2.3		0.3	2.2		-0.2
		trade
		Wholesale trade	239.6	102.3	r	99.8	2.9	r	-0.3	2.5	r	-0.5
		Wholesale trade	11.5	105.1	r	102.4	4.1	r	2.5	2.6	r	0.9
		(Textile and apparel)
		Wholesale trade	45.7	99.0	r	98.6	-0.5	r	-4.2	0.4	r	-1.7
		(Food and beverages)
		Wholesale trade
		(Building materials, minerals &	63.0	103.4		99.1	1.9		-1.4	4.3		-2.0
		metals, etc.)
		Wholesale trade	63.9	101.0	r	99.6	4.2	r	1.2	1.4	r	1.6
		(Machinery and equipment)
		Wholesale trade	55.5	104.7	r	101.2	5.3	r	1.6	3.5	r	-0.7
		(Miscellaneous goods)
Note: r: revised figures

( Developments in Price Index )

108

106

104

102

100

98

96

94

(CY2015 = 100)				108	(CY2015 = 100)
	Services Producer Price Index
							Wholesale Services Price Index
	Wholesale Services Price Index	106
	Wholesale trade>
					104
					102
					100
					98
					96
					94
CY 2015	2016	2017	2018	2019	2020	CY 2015	2016	2017	2018	2019	2020
					6

(Special Table) Services Producer Price Index excluding Consumption Tax

									CY2015 = 100, %
				All items
								(Ref.) All items
							(excluding International transportation)
				Yearly		Monthly		Yearly		Monthly
		Index			(Quarterly)	Index		(Quarterly)
			change		change
					change			change
2018/ Q3		102.3		1.3		0.3	102.3	1.2		0.3
Q4		102.7		1.2		0.4	102.7	1.2		0.4
2019/ Q1		102.7		1.1		0.0	102.7	1.1		0.0
Q2		102.9		0.9		0.2	102.9	0.9		0.2
Q3		102.8		0.5		-0.1	102.8	0.5		-0.1
Q4		103.1		0.4		0.3	103.0	0.3		0.2
2018/ Dec.		102.8		1.1		0.0	102.8	1.1		0.0
2019/ Jan.		102.3		1.1		-0.5	102.3	1.0		-0.5
Feb.		102.5		1.0		0.2	102.5	1.0		0.2
Mar.		103.2		1.1		0.7	103.2	1.1		0.7
Apr.		103.1		1.0		-0.1	103.1	0.9		-0.1
May		102.9		1.0		-0.2	102.9	1.0		-0.2
June		102.7		0.7		-0.2	102.8	0.8		-0.1
July		102.9		0.6		0.2	102.9	0.6		0.1
Aug.		102.8		0.5		-0.1	102.8	0.5		-0.1
Sep.		102.8		0.5		0.0	102.8	0.6		0.0
Oct.		103.0		0.4		0.2	102.9	0.3		0.1
Nov.		103.2	r	0.4		0.2	103.1	0.3		0.2
Dec.	r	103.1	0.3	r	-0.1	103.1	0.3		0.0
2020/ Jan.		102.9		0.6		-0.2	102.8	0.5		-0.3
Preliminary Figures
Note: r: revised figures

( Developments in Price Index )

108	(CY2015 = 100)
106		Services Producer Price Index excluding Consumption Tax
104		Services Producer Price Index
102
100
98
96
94	CY 2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020

7

	(Special Table)	Services Producer Price Index excluding Consumption Tax
(All items and the details contributing to the monthly differences of yearly changes in January)
		Monthly	Yearly change (%)
		difference of
		yearly changes	Dec.		Jan.
		(%point)
	All items	0.3	0.3		0.6
▽Details contributing to the monthly differences of yearly changes in January
		Monthly differences	Yearly change (%)
	Major groups・Subgroups	of contribution				Items
	to yearly changes	Dec.		Jan.
		(%point)
＋: Transportation and postal activities	0.08	0.8		1.3
	＋: Ocean freight transportation	0.09	4.2		17.0	Ocean freight transportation (except Ocean tankers)*, Ocean tankers*
	＋: Coastal and inland water freight	0.01	-2.0		0.0	RORO ships, Coastal and inland water freighters (except RORO ships)
	transportation
	＋: International air freight transportation	0.01	-24.6		-19.5	International air freight transportation*
	－: Road freight transportation	-0.02	1.5		1.2	Motor freight transportation (Metal and machinery products), Motor freight
		transportation (Mineral and chemical products)
	－: Domestic air passenger transportation	-0.01	1.1		-0.3	Domestic air passenger transportation
＋: Other services	0.07	0.6		0.8
	＋: Hotels	0.02	-7.3		-5.7	Hotels
	＋: Waste disposal	0.02	0.9		1.9	Industrial waste disposal
	＋: Motor vehicle repair and maintenance	0.01	0.1		0.6	Motor vehicle maintenance (accident repair)
	Civil engineering and architectural
	＋: services	0.01	2.2		2.5	Architectural design services
	＋: Employment services	0.01	2.0		3.3	Employment services
＋: Information and communications	0.07	-0.1		0.3
	＋: Mobile telecommunications services	0.07	-8.0		-3.8	Mobile telecommunications services
	＋: Software development	0.01	1.4		1.4	Custom software (except Embedded software)
＋: Real estate services	0.03	1.2		1.5
	＋: Other space rental	0.02	0.0		0.5	Sales space rental
	＋: Office space rental	0.01	3.1		3.3	Office space rental (Tokyo area)
	Real estate agency and management
	＋: services	0.01	1.2		1.4	Real estate agency and management services
＋: Finance and insurance	0.02	0.8		1.1
	＋: Property and casualty insurance	0.01	0.2		1.0	Voluntary motor vehicle insurance
	services
＋: Advertising services	0.01	-3.0		-2.8
	＋: Newspaper advertising	0.02	-5.5		-0.3	Newspaper advertising
	＋: Magazine advertising	0.01	-7.6		4.6	Magazine advertising
	＋: Other advertising services	0.01	0.0		1.0	Advertising in traffic facilities, Free newspaper and magazine advertising
	－: Television advertising	-0.03	-2.7		-4.3	Television advertising (program sponsorships)
	－: Internet advertising	-0.01	-5.8		-6.4	Internet advertising
＋: Leasing and rental	0.01	-0.3		-0.3
	＋: Leasing	0.01	-0.5		-0.3	Medical equipment leasing, Industrial machinery leasing, Leasing of machinery
		for civil engineering and construction
▽Contribution of each Major group to the yearly change in January
	Major groups	Contribution to				Subgroups
	yearly change**
		(%point)
All items	0.60
	Other services	0.27	Worker dispatching services, Civil engineering and architectural services, Security services
	Transportation and postal activities	0.21	Ocean freight transportation, Road freight transportation, Railroad passenger transportation
	Real estate services	0.15	Office space rental, Real estate agency and management services, Other space rental
	Information and communications	0.06	Software development, Information processing and information providing services, Internet based
	services
	Finance and insurance	0.05	Financial services (commission), Property and casualty insurance services
	Leasing and rental	-0.02	Leasing, Rental
	Advertising services	-0.14	Television advertising, Internet advertising, Newspaper advertising

Notes: 1. "Monthly differences of yearly changes" is obtained by subtracting yearly changes of previous month from those of p resent month.

Notes: 2. * : "International transportation."

Notes: 3. ** : The figure of "All items" is yearly change and not contribution to yearly change.

8

(Special Table) Services Producer Price Index excluding Consumption Tax

Indexes of Major Groups (Time-Series Data)

										CY2015 = 100, %
		All items		Finance and insurance	Real estate services	Transportation and postal
			activities
				Yearly			Yearly		Yearly			Yearly
				change			change		change			change
Weight	1,000.0		――	48.3		――	94.5	――	158.0		――
CY	2017	101.0		0.7	101.1		0.4	102.4	1.4	100.2		1.4
	2018	102.2		1.2	101.2		0.1	103.6	1.2	102.7		2.5
	2019	102.9		0.7	101.4		0.2	104.5	0.9	104.0		1.3
FY	2016	100.4		0.3	100.8		0.6	101.3	1.0	99.0		-0.7
	2017	101.3		0.9	101.1		0.3	102.7	1.4	100.6		1.6
	2018	102.4		1.1	101.2		0.1	103.8	1.1	103.2		2.6
2018/ Dec.	102.8		1.1	101.3		0.2	104.6	0.9	103.9		2.3
2019/ Jan.	102.3		1.1	101.3		0.1	103.9	0.5	103.0		2.0
	Feb.	102.5		1.0	101.3		0.2	103.4	0.6	103.1		2.2
	Mar.	103.2		1.1	101.2		0.2	104.4	0.9	103.8		2.2
	Apr.	103.1		1.0	101.2		0.2	104.5	1.2	103.9		1.9
	May	102.9		1.0	101.2		0.1	104.6	1.3	103.7		1.3
	June	102.7		0.7	101.2		0.2	104.5	1.2	103.5		1.1
	July	102.9		0.6	101.3		0.1	104.7	0.8	104.4		1.0
	Aug.	102.8		0.5	101.3		0.1	104.5	0.4	104.9		0.8
	Sep.	102.8		0.5	101.3		0.0	104.2	0.6	104.1		1.0
	Oct.	103.0		0.4	101.7		0.3	104.3	0.7	104.7		0.7
	Nov.	103.2		0.4	101.7		0.3	105.2	1.3	104.2		0.6
	Dec.	103.1		0.3	102.1		0.8	105.9	1.2	104.7		0.8
2020/ Jan.	102.9		0.6	102.4		1.1	105.5	1.5	104.3		1.3
		Information and		Leasing and rental		Advertising services	Other services
		communications
				Yearly			Yearly		Yearly			Yearly
				change			change		change			change
Weight	228.3		――	79.2		――	49.2	――	342.5		――
CY	2017	100.2		0.1	99.1		-0.4	101.9	0.9	101.9		1.1
	2018	100.9		0.7	99.2		0.1	102.9	1.0	103.0		1.1
	2019	100.9		0.0	99.2		0.0	103.0	0.1	104.3		1.3
FY	2016	100.2		0.3	99.4		-0.7	101.5	1.5	101.0		0.8
	2017	100.3		0.1	99.1		-0.3	102.4	0.9	102.1		1.1
	2018	101.0		0.7	99.2		0.1	103.4	1.0	103.4		1.3
2018/ Dec.	101.0		0.8	99.3		0.2	106.4	0.1	103.6		1.4
2019/ Jan.	100.7		0.3	99.2		0.2	102.8	3.0	103.4		1.5
	Feb.	100.9		0.3	99.5		-0.1	102.4	0.5	103.8		1.5
	Mar.	101.0		0.5	99.2		0.2	112.3	2.1	104.1		1.5
	Apr.	100.9		-0.2	99.4		0.4	105.9	2.2	104.5		1.4
	May	101.1		0.1	99.6		0.5	101.5	1.8	104.5		1.5
	June	100.9		-0.2	99.2		0.3	102.3	0.6	104.2		1.1
	July	100.9		-0.2	99.0		-0.2	101.3	0.4	104.3		1.1
	Aug.	101.0		-0.3	98.8		-0.3	97.1	-0.1	104.6		1.3
	Sep.	101.0		-0.2	99.0		0.0	100.7	-1.1	104.4		1.2
	Oct.	101.1		0.1	99.0		-0.5	100.9	-3.2	104.5		1.0
	Nov.	100.8		-0.2	99.1		-0.4	105.2	-2.2	104.5		0.8
	Dec.	100.9		-0.1	99.0		-0.3	103.2	-3.0	104.2		0.6
2020/ Jan.	101.0		0.3	98.9		-0.3	99.9	-2.8	104.2		0.8

9

Reference: Wholesale Services Price Index excluding Consumption Tax

( Preliminary Figures for the Fourth Quarter of CY2019 )

CY2015 = 100, %

			Weight	Index		Previous	Yearly		Previous	Quarterly		Previous
				quarter	change		quarter	change		quarter
		All items including Wholesale	1,239.6	102.7		102.2	0.6		0.3	0.5		-0.2
		trade
		Wholesale trade	239.6	100.8	r	99.8	1.4	r	-0.3	1.0	r	-0.5
		Wholesale trade	11.5	103.3	r	102.4	2.3	r	2.5	0.9	r	0.9
		(Textile and apparel)
		Wholesale trade	45.7	98.8	r	98.6	-0.7	r	-4.2	0.2	r	-1.7
		(Food and beverages)
		Wholesale trade	63.0	101.6		99.1	0.1		-1.4	2.5		-2.0
		(Building materials, minerals &
		metals, etc.)
		Wholesale trade	63.9	99.1	r	99.6	2.3	r	1.2	-0.5	r	1.6
		(Machinery and equipment)
		Wholesale trade	55.5	102.8	r	101.2	3.4	r	1.6	1.6	r	-0.7
		(Miscellaneous goods)
Note: r: revised figures

( Developments in Price Index )

108

106

104

102

100

98

96

94

	(CY2015 = 100)					108
			Services Producer Price Index excluding
			Consumption Tax			106
			Wholesale Services Price Index excluding
			Consumption Tax
			trade>					104
								102
								100
								98
								96
								94
CY 2015
2016	2017	2018	2019	2020

(CY2015 = 100)

Wholesale Services Price Index excluding

Consumption Tax

Wholesale Services Price Index

CY 2015

2016

2017

2018

2019

2020

10