Retail Services Price Index, second quarter 2013
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Released: 2013-11-18
The Retail Services Price Index (RSPI) rose 0.8% in the second quarter, registering the same rate of growth as reported in the second quarter of 2012. Of the 10 major retail sectors, margins rose in 5 and fell in 5.
Chart 1
Retail Services Price Index
The increase of the RSPI was largely a result of margin increases by gasoline stations (+8.2%). To a lesser extent, margin gains by building material and garden equipment and supplies dealers (+0.9%), sporting goods, hobby, book and music store (+0.9%) and electronics and appliance stores (+0.6%) also contributed to the increase of the RSPI.
Conversely, the growth of the RSPI was moderated by margin declines at general merchandise stores (-1.5%), health and personal care stores (-0.8%) and clothing and clothing accessories stores (-0.7%). Margins for food and beverage stores (-0.3%) and miscellaneous store retailers (-0.2%) also declined in the second quarter.
Year over year, growth in the RSPI was unchanged at 0.9%. The advance of the RSPI was a result of margin gains in 7 of the 10 sectors. Increases at general merchandise stores (+3.4%), building material and garden equipment and supplies dealers (+2.2%) and furniture and home furnishings stores (+2.0%) contributed to the year-over-year gain in the RSPI. Gains in retail margins for food and beverage stores (+1.0%) have continued to slow since the growth rate peaked in the first quarter of 2012.
Margins for electronics and appliance stores (-2.7%) continued to fall, recording the largest year-over-year decline among the 10 retail sectors in the second quarter. However, this decrease was the smallest decline by electronics and appliance stores since the fourth quarter of 2010.
Clothing and clothing accessories stores (-1.2%) and gasoline stations (-0.4%) also posted year-over-year declines. This was the fourth consecutive year-over-year margin decline at clothing and clothing accessories stores.
Note to readers
The Retail Services Price Index (RSPI) represents the change in the price of the retail service. The price of the retail service is defined as the margin price, which is the difference between the average purchase price and the average selling price of the retail product being priced. The RSPI is not a retail selling price index.
With each release, data for the previous quarter may have been revised. The series are also subject to an annual revision with the release of second quarter data of the following reference year. The indexes are not seasonally adjusted.
The Retail Services Price Index for third quarter will be released in February 2014.
Contact information
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