Member Article

Professional service prices on the rise

Professional services saw modest year-on-year growth in 2012 in accountancy, legal services, architecture, engineering and cargo handling.

Figures released by the Office of National Statistics showed prices in phase one industries rose across the board, with the largest rise of 3.3% in cargo handling.

Contrastingly, prices in phase two services, such as advertising, business management and warehousing services, fell to varying degrees.

Price indices for advertising, creation and placement services dropped by 3.4%, while business management service fell 1.1% and warehousing prices decreased by 1%.

In the fourth quarter last year there were slight price increases in all service industries, while advertising experienced more significant rises than business management and warehousing services.

ONS said its next results for professional business services will be published at the end of May 2013.

This was posted in Bdaily's Members' News section by Miranda Dobson .