New Delhi, August 24: The central government has released the provisional data for the Service Producer Price Index (SPPI) on Monday. The inflation rate for the insurance service price index stands at 0.98% year-on-year, while the telecom services price index has recorded an inflation rate of 0.72%.
According to data from the Ministry of Commerce and Industry, the insurance service price index was at 102.9 for the June quarter of the fiscal year 2027, marking an annual increase of 0.98%.
The telecom services price index rose to 112.2, reflecting a year-on-year increase of 0.72%.
In the first quarter of fiscal year 2027, the securities transaction service price index was recorded at 89.9, showing a decline of 1.32% year-on-year.
Meanwhile, the banking service price index stood at 100.9, with a year-on-year decrease of 3.35%. The banking service contribution index, however, rose to 134.8, marking an annual increase of 6.90%.
Additionally, the management of pension funds service price index reached 113.3, reflecting a year-on-year increase of 5.20%.
In the June quarter, the air (passenger) service price index surged by 31.94% year-on-year to reach 126.4.
The railway service price index for the first quarter of fiscal year 2027 was recorded at 103.4, showing a year-on-year increase of 1.27%. The railway freight service price index increased by 0.10% to 103.3, while the railway passenger service price index rose by 3.50% to 103.5.
The service PPI includes seven types of services, with a base year of 2022-23. However, the government notes that these indices do not include weightage for services, as they do not cover the entire service sector.
The service PPI data for the second quarter of fiscal year 2027 (July-September) will be released on November 25, 2026.
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