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Rebasing the Services Producer Price Index to the Base Year 2020-- Main features of the rebasing and price developments in the 2020 base index --

June 18, 2024
Research and Statistics Department
Bank of Japan

The Bank of Japan has conducted the rebasing of the Services Producer Price Index (SPPI) in accordance with the Final Draft (available only in Japanese) published in February 2024. The Bank plans to begin monthly releases of the 2020 base SPPI from June 25, when preliminary figures for May 2024 are to be published. This paper explains, with respect to the SPPI with the new base, an overview of the number of items and weights, developments of the indexes for newly added and revised items, an analysis of changes in the index for "All items", and initiatives for improving the usability of the SPPI.

The following 2020 base indexes are available on BOJ Time-Series Data Search*1*2.

• Monthly Index
Indexes of Jan. 2020-Apr. 2024 and Linked Indexes
• Quarterly Index <All items (including Wholesale trade, and Business enterprise research and development), Wholesale Services Price Index, and Research and development Services Price Index>
Indexes of Q1 2020-Q1 2024 and Linked Indexes
  1. *1Since preliminary figures are subject to revision in each of the subsequent three months as additional information becomes available, the Monthly index for February 2024 through April 2024 may be revised when the release of the preliminary figures for May (June 25, 2024). The Quarterly index for Q1 2024 may be revised when the release of the preliminary figures for Q2 (August 27, 2024).
  2. *2For the coverage of linked indexes, please refer to the research paper.

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Price Statistics Division, Research and Statistics Department

E-mail : post.rsd3@boj.or.jp