Business

Services Producer Price Index increased by 2.99% in May

The Services Producer Price Index increased by 2.99% on a monthly basis and by 65.47% on an annual basis in May this year.

Turkish Statistical Institute announced the results of the “Service Producer Price Index” for May.

Accordingly, S-PPI increased by 2.99% in May compared to the previous month, by 28.58% compared to December of the previous year, by 65.47% compared to the same month of the previous year and by 84.39% compared to the 12-month averages.

Compared to the same month of the previous year, the index increased by 47.58% in transportation and storage services, 86.47% in accommodation and food services, and 72.5% in information and communication services, 64.92% in real estate services, 90.59% in professional, scientific and technical services, and 87.64% in administrative and support services.

Compared to the previous month, S-PPI increased by 1.05% in transportation and storage services, 7.89% in accommodation and food services, 1.22% in information and communication services, and 4.19% in real estate services, 2.48% in vocational, scientific and technical services, and 5.22% in administrative and support services.

According to the annual S-PPI, 8 sub-sectors changed lower and 19 sub-sectors showed higher changes. Among the S-PPI sectors, water transport services by 2.71%, air transport services by 35.58%, storage and support services (for transportation) by 46.52%, were the sub-sectors where the indexes increased the least. On the other hand, employment services by 120.52%, building and landscaping services by 117.17%, and programming and broadcasting services by 110.86% were the sub-sectors in which the indexes increased the most.

According to the monthly S-PPI, 18 sub-sectors showed lower changes and 9 sub-sectors showed higher changes. Programming and broadcasting services by 4.08%, security and investigation services by 2.35%, office management, office support and other business support services by 2.19%, among the S-PPI sectors, were recorded as the sub-sectors where the indices decreased the most. Accommodation services by 16.57%, travel agencies, tour operators, other reservation services and related services by 14.39%, scientific research and development services by 13.12% were the sub-sectors where the indexes increased the most.

Source: Trthaber / Prepared by Irem Yildiz

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