Relevance

User Needs

The Producer Price Index for Services are used as a deflator, primarily by National Accounts, to adjust nominal GDP to real GDP (or GDP at constant prices).

The indices also act as key economic indicators and for contract regulation purposes by public and private decision-makers for assessing the socio-economic development. International organizations, such as IMF and the World Bank, use the indicator for international comparison.

In addition, the index is used by the business sector for contract adjustments.

Eurostat requires certain indicators to be produced to provide harmonized statistical information from the European Union member states.

User Satisfaction

The primary user of this statistic is the Danish National Accounts. For this reason, the main purpose of the statistics is as a deflator for constant price calculations. This main purpose means that certain transactions, e.g. transfer prices, are included which would not be otherwise included for a purely inflationary measure. There is regular dialogue with National Accounts, in relation to quality and user satisfaction.

There are also external decision-makers who use the statistics for contract regulation, as well as to monitor the price developments in the published indices. Statistics Denmark is on a regular basis in contact with these users, and attempt to meet any requests to the extent which it is possible, keeping in mind that the primary purpose is for deflation.

Periodically, Statistics Denmark holds a expert committee meeting with users of price indices. The committee meetings are held in cooperation with the consumer price indices, as well as statistics for purchasing power parities and price level indices. The next meeting is scheduled for may 2025. Members of the committee are: the Ministry of Finance the Ministry of Economic Affairs and the Interior; The Danish National Bank and the Danish Competition and Consumer Authority. Membership of the committee is updated on a needs basis.

Data completeness rate

Some industry indices are not published due to confidentiality considerations or because they are under development. The statistics are subject to EU requirements regarding; industry coverage, level of detail, frequency, and publication times. Statistics Denmark meets all these requirements. The published index in the Statistical Database complies with all requirements from previously applicable regulations, which are the same as those in the new regulation for pure producer price indices. Statistics Denmark is also producing a new index that fulfills a requirement from the new regulation, which took effect in the first quarter of 2023 (see Legal acts and other agreements), where consumer prices must be included in the index. The new index is produced and submitted to Eurostat but is not yet published by Statistics Denmark. In addition, Statistics Denmark is actively participating in exploratory work to expand the number of industries covered by the Producer Price Index for Services.