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

Bank of Japan

Research and Statistics Department

FOR RELEASE 8:50 A.M.

Monday, April 26, 2021

Monthly Report on the Services Producer Price Index

( Preliminary Figures for March 2021 )

The Services Producer Price Index (All items ) rose 0.6 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	2018		102.2		1.2		-	102.2	1.1		-
	2019		103.3		1.1		-	103.3	1.1		-
	2020		104.2		0.9		-	104.3	1.0		-
	2020/ Feb.		104.6		2.1		-0.1	104.6	2.0		0.0
	Mar.		104.6		1.4		0.0	104.7	1.5		0.1
	Apr.		103.9		0.9		-0.7	103.9	0.8		-0.8
	May		103.3		0.5		-0.6	103.4	0.6		-0.5
	June		103.6		0.9		0.3	103.8	1.1		0.4
	July		104.0		1.2		0.4	104.1	1.3		0.3
	Aug.		104.0		1.2		0.0	104.1	1.3		0.0
	Sep.		104.2		1.5		0.2	104.3	1.6		0.2
	Oct.		104.4		-0.4		0.2	104.5	-0.3		0.2
	Nov.		104.6		-0.4		0.2	104.7	-0.3		0.2
	Dec.		104.8	r	-0.2		0.2	104.9	0.0		0.2
	2021/ Jan.	r	104.4	-0.3	r	-0.4	104.4	-0.2		-0.5
	Feb.	r	104.6	r	0.0		0.2	104.6	0.0		0.2
	Mar.		105.3		0.7		0.7	105.3	0.6		0.7
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	2021
						1

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

	Monthly	Yearly change (%)
	difference of
	yearly changes	Feb.	Mar.
	(%point)
All items	0.7	0.0	0.7

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

			Monthly differences	Yearly change (%)
		Major groups・Subgroups	of contribution			Items
		to yearly changes
			(%point)	Feb.	Mar.
＋:	Advertising services	0.30	0.4	6.4
	＋:	Television advertising	0.17	0.5	9.6	Television advertising (spot advertising), Television
						advertising (program sponsorships)
	＋:	Internet advertising	0.12	0.4	10.3	Internet advertising
	＋: Magazine advertising	0.01	-12.0	-5.1	Magazine advertising
＋:	Other services	0.13	0.0	0.4
	＋: Hotels	0.15	-31.5	-18.2	Hotels
	－: Civil engineering and architectural services	-0.01	1.0	0.7	Architectural design services
＋: Transportation and postal activities	0.12	-0.2	0.5
	＋: Ocean freight transportation	0.09	-9.0	2.3	Ocean freight transportation (except Ocean tankers)*
	＋: Domestic air passenger transportation	0.03	-0.6	3.8	Domestic air passenger transportation
	＋:	Road freight transportation	0.01	0.0	0.1	Door-to-door parcel delivery, Motor freight
						transportation (Mineral and chemical products)
＋:	Real estate services	0.05	0.0	0.6
	＋:	Other space rental	0.07	-1.8	-0.2	Sales space rental, Hotel rental, Parking space rental
	－: Office space rental	-0.01	2.7	2.3	Office space rental (Tokyo area)
＋: Information and communications	0.03	0.3	0.4
	＋:	Internet based services	0.02	-1.4	-0.5	Web portals
	＋: Software development	0.01	1.1	1.2	Custom software (except Embedded software)
＋:	Leasing and rental	0.03	-0.5	-0.2
	＋: Rental	0.01	0.1	0.8	Construction machinery and equipment rental
	＋: Leasing	0.01	-0.8	-0.5	Industrial machinery leasing, Communications
						equipment leasing, Medical equipment leasing

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

	Major groups	Contribution to	Subgroups
	yearly change**
		(%point)
All items	0.70
	Advertising services	0.32	Television advertising, Internet advertising, Newspaper advertising
	Other services	0.13	Worker dispatching services, Building maintenance, Civil engineering and
	architectural services
	Information and communications	0.08	Software development, Information processing and information providing
	services, Publishing
	Transportation and postal activities	0.08	International air freight transportation, Domestic air passenger
	transportation, Domestic air freight transportation
	Real estate services	0.05	Office space rental
	Finance and insurance	0.00
	Leasing and rental	-0.01	Leasing

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 March 2021 )

( 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	105.3	r 104.6	0.7	r	0.0	0.7		0.2
	Finance and insurance	48.3	103.2	103.2	0.0		0.0	0.0		0.1
	Financial services (commission)	34.7	102.7	r 102.7	-0.6	r	-0.7	0.0	r	0.0
	Property and casualty insurance services	13.6	104.6	104.3	1.8		1.5	0.3		0.3
	Real estate services	94.5	106.4	r 106.2	0.6	r	0.0	0.2	r	-0.3
	Real estate agency and management services	23.9	107.5	r 107.5	-0.1	r	-0.1	0.0	r	0.0
	Office space rental	26.5	116.0	r 116.3	2.3		2.7	-0.3	r	0.3
	Other space rental	44.1	100.1	r 99.5	-0.2	r	-1.8	0.6	r	-0.7
	Transportation and postal activities	158.0	106.5	105.6	0.5		-0.2	0.9	r	0.3
	Railroad passenger transportation	19.8	102.9	101.9	0.0		0.0	1.0		-1.0
	Road passenger transportation	9.7	105.1	104.7	-0.9		-1.1	0.4		0.2
	Water passenger transportation	0.3	104.5	104.5	2.0		2.0	0.0		-0.2
	International air passenger transportation	1.2	105.3	105.2	5.3		1.5	0.1		3.7
	Domestic air passenger transportation	6.0	107.3	97.2	3.8		-0.6	10.4		3.0
	Railroad freight transportation	0.9	108.8	110.2	0.9		1.7	-1.3		0.1
	Road freight transportation	55.0	110.8	r 110.7	0.1	r	0.0	0.1		0.1
	Ocean freight transportation	7.6	103.5	96.0	2.3		-9.0	7.8		3.2
	Coastal and inland water freight transportation	5.0	102.8	102.6	-3.6		-3.8	0.2	r	0.1
	Marine cargo handling	7.4	100.9	100.9	0.0		0.0	0.0		0.0
	International air freight transportation	1.0	135.2	128.9	64.3		76.8	4.9		2.2
	Domestic air freight transportation	0.4	145.6	148.0	44.2		48.6	-1.6		1.5
	Warehousing and storage	13.0	101.7	101.7	0.6		0.6	0.0		0.0
	Packing for freight	6.3	102.7	102.7	-0.3		-0.3	0.0		0.0
	Toll roads	10.6	103.9	103.9	0.0		0.0	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	100.1	100.1	-4.9		-4.9	0.0		0.0
	to air transport
	Postal services and mail delivery	9.5	109.3	109.3	0.0		0.0	0.0		0.0
	Information and communications	228.3	102.9	r 102.9	0.4	r	0.3	0.0	r	0.0
	Fixed telecommunications services	24.1	101.7	101.7	0.1		0.1	0.0		0.0
	Mobile telecommunications services	16.5	90.8	90.8	-0.4		-0.4	0.0		0.0
	Access charges	16.2	94.7	94.7	-0.6		-0.6	0.0		0.0
	Broadcasting services	2.5	99.6	99.6	-1.5		-1.5	0.0		0.0
	Software development	75.0	108.4	r 108.4	1.2	r	1.1	0.0	r	0.1
	Information processing and information	54.1	102.5	102.5	0.3		0.3	0.0		0.0
	providing services
	Internet based services	19.6	101.1	r 101.4	-0.5	r	-1.4	-0.3	r	-0.4
	Video picture information production	8.0	100.2	100.0	-0.2		-0.4	0.2		-0.3
	Newspapers	4.5	104.8	104.8	0.0		0.0	0.0		0.0
	Publishing	7.8	106.4	106.4	0.5		0.6	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
100.3	r 100.5	-0.2	r	-0.5	-0.2	r	0.2
99.9	r 100.2	-0.5	r	-0.8	-0.3	r	0.2
101.4	r 101.0	0.8	r	0.1	0.4	r	0.0
112.9	102.0	6.4		0.4	10.7		4.2
110.3	93.6	9.6		0.5	17.8		6.6
120.9	113.1	8.0		7.6	6.9		9.0
102.0	88.7	-5.1		-12.0	15.0		-3.7
104.5	104.5	0.7		0.7	0.0		0.0
125.5	110.8	10.3		0.4	13.3		5.8
105.4	104.9	-1.3		-1.4	0.5		-0.9
106.4	106.4	0.4		0.0	0.0		0.1
101.9	101.9	0.0		0.0	0.0		0.0
107.2	107.2	0.3		0.3	0.0		0.0
103.3	103.3	0.8		0.8	0.0		0.0
103.7	103.7	0.2		0.2	0.0		0.0
99.8	99.8	0.0		0.0	0.0		0.0
103.1	r 103.2	-1.1	r	-0.8	-0.1		0.0
120.2	r 119.2	0.7	r	1.0	0.8	r	-0.1
104.7	105.1	0.7		1.1	-0.4		0.0
104.0	104.0	0.2		0.2	0.0		0.0
110.2	r 111.0	-1.5	r	-1.1	-0.7		0.1
115.5	115.6	3.0		3.1	-0.1	r	-0.1
104.0	104.0	0.3		0.3	0.0		0.0
104.1	104.1	0.0		0.0	0.0		0.0
105.9	105.9	1.0		1.0	0.0		0.0
117.5	117.5	1.0		1.1	0.0		0.0
106.4	106.4	0.9		0.9	0.0		0.0
68.1	r 68.2	-18.2	r	-31.5	-0.1	r	3.2
106.3	106.3	2.0		2.1	0.0		0.0
103.6	103.6	0.0		0.0	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	105.3		104.6	0.6		0.0	0.7	0.2
	Transportation and postal activities	147.5	106.5		105.9	0.0		-0.2	0.6	0.0
	(excluding International transportation)
	International transportation	10.5	106.8		100.8	7.3		-1.3	6.0	3.0
	Intellectual properties licensing (export)		94.4	r	91.8	5.5	r	-1.1	2.8	2.0
	Intellectual properties licensing (import)		89.1	r	88.0	-0.2	r	-2.4	1.3	r 0.6

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	2018	102.2		1.2	101.2		0.1	103.6	1.2	102.7		2.5
	2019	103.3		1.1	101.8		0.6	104.9	1.3	104.4		1.7
	2020	104.2		0.9	102.8		1.0	105.6	0.7	105.6		1.1
FY	2018	102.4		1.1	101.3		0.2	103.7	1.0	103.2		2.6
	2019	103.8		1.4	102.3		1.0	105.5	1.7	105.1		1.8
	2020	104.3		0.5	102.7		0.4	105.6	0.1	105.5		0.4
2020/ Q2	103.6		0.8	102.6		1.2	103.2	-1.1	105.3		1.5
	Q3	104.1		1.3	102.8		1.4	106.1	1.7	105.6		1.1
	Q4	104.6		-0.3	102.4		-0.6	106.6	-0.4	105.4		-0.8
2021/ Q1	104.8		0.2	103.2		0.0	106.4	0.0	105.8		-0.1
2020/ Feb.	104.6		2.1	103.2		1.7	106.2	2.8	105.8		2.6
	Mar.	104.6		1.4	103.2		1.8	105.8	1.4	106.0		2.1
	Apr.	103.9		0.9	102.6		1.2	103.0	-1.2	105.7		1.7
	May	103.3		0.5	102.6		1.2	101.9	-2.5	105.3		1.5
	June	103.6		0.9	102.6		1.2	104.6	0.2	105.0		1.5
	July	104.0		1.2	103.3		1.8	106.1	1.7	105.7		1.3
	Aug.	104.0		1.2	102.5		1.1	106.2	1.7	106.0		1.0
	Sep.	104.2		1.5	102.5		1.1	106.1	1.9	105.1		1.0
	Oct.	104.4		-0.4	102.4		-0.4	106.2	-0.3	105.4		-0.9
	Nov.	104.6		-0.4	102.4		-0.5	106.4	-0.5	105.2		-0.7
	Dec.	104.8		-0.2	102.4		-0.8	107.2	-0.5	105.7		-0.7
2021/ Jan.	104.4		-0.3	103.1		-0.2	106.5	-0.6	105.3		-0.7
	Feb.	104.6		0.0	103.2		0.0	106.2	0.0	105.6		-0.2
	Mar.	105.3		0.7	103.2		0.0	106.4	0.6	106.5		0.5
		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	2018	100.9		0.7	99.2		0.1	102.9	1.0	103.1		1.2
	2019	101.3		0.4	99.5		0.3	103.6	0.7	104.7		1.6
	2020	102.6		1.3	100.3		0.8	97.4	-6.0	106.4		1.6
FY	2018	100.9		0.6	99.2		0.1	103.4	1.0	103.4		1.3
	2019	101.8		0.9	99.9		0.7	102.9	-0.5	105.3		1.8
	2020	102.6		0.8	100.2		0.3	97.7	-5.1	106.5		1.1
2020/ Q2	102.4		1.6	100.2		1.0	91.0	-12.0	106.5		2.1
	Q3	102.6		1.8	100.2		1.4	93.4	-6.4	106.5		2.0
	Q4	102.7		-0.1	100.2		-0.5	102.0	-3.0	106.6		0.2
2021/ Q1	102.9		0.3	100.4		-0.3	104.3	1.1	106.4		0.2
2020/ Feb.	102.6		1.8	101.0		1.6	101.6	-0.8	106.4		2.5
	Mar.	102.5		1.6	100.5		1.5	106.1	-5.5	106.0		1.8
	Apr.	102.5		1.7	100.4		1.1	93.4	-11.9	106.7		2.1
	May	102.4		1.5	100.2		0.8	88.1	-13.3	106.4		1.9
	June	102.4		1.6	100.1		1.1	91.4	-10.8	106.3		2.1
	July	102.6		1.8	100.1		1.3	93.3	-8.0	106.3		1.9
	Aug.	102.6		1.8	100.2		1.4	90.7	-6.8	106.5		1.9
	Sep.	102.5		1.6	100.3		1.5	96.2	-4.6	106.6		2.2
	Oct.	102.6		-0.3	100.1		-0.7	99.4	-3.4	106.6		0.2
	Nov.	102.6		0.0	100.3		-0.5	102.6	-4.3	106.7		0.2
	Dec.	102.8		0.0	100.1		-0.5	103.9	-1.5	106.6		0.4
2021/ Jan.	102.9		0.1	100.3		-0.4	97.9	-3.8	106.3		0.1
	Feb.	102.9		0.3	100.5		-0.5	102.0	0.4	106.4		0.0
	Mar.	102.9		0.4	100.3		-0.2	112.9	6.4	106.4		0.4

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 Wednesday, May 26, 2021.

5