Revision of the Services Producer Price Index
September 27, 2022
Research and Statistics Department
Bank of Japan
In order to reflect the retroactive revision of the "Quick Estimate of Construction Investment" published by the Ministry of Land, Infrastructure, Transport and Tourism, some of the figures in the Services Producer Price Index (SPPI) have been revised from January 2015 onwards, to coincide with the scheduled retroactive revision.*1The revised data are available in "BOJ Time-Series Data Search."*2
With regards to the impact of the retroactive revision of the "Quick Estimate of Construction Investment," the weights assigned to the items "Architectural design services" and "Civil engineering design services" in the SPPI (2015 base) have been revised (Table). The data in the "Quick Estimate of Construction Investment" are used to allocate the sum of the weights for these two items. This has led to revisions of the higher-order classification indexes which these items belong to, though the impact is quite limited.
| Item "Architectural design services" |
Item "Civil engineering design services" |
Sum of the two items | |
|---|---|---|---|
| Before | 13.1 | 11.2 | 24.3 |
| After | 14.4 | 9.9 | 24.3 |
- *1:The period covered by the scheduled retroactive revision is from January 2021 onwards. For details on the scheduled retroactive revision, please see the section 10 of "Outline of the Services Producer Price Index (SPPI, 2015 base)."
- *2:"<Satellite series> Final Demand- Intermediate Demand price indexes (FD-ID price indexes)" which uses the SPPI will also be revised at the time of the release for the August 2022 on September 29, 2022.
Inquiries
Price Statistics Division, Research and Statistics Department
E-mail : post.rsd3@boj.or.jp