September sees an upsurge in Services Producer Price Index

Service Producer Price Index Records Significant Increase in September

The Turkish Statistical Institute (TUIK) has released the Service Producer Price Index data for September, revealing a significant increase in prices. The H-PPI rose by 1.70% compared to the previous month, 72.00% compared to December of the previous year, 78.46% compared to the same month of the previous year, and 78.63% compared to the twelve-month average.

Among the sectors with notable increases, transportation and storage services saw a significant rise of 62.65% annually. Other sectors that experienced considerable increases include accommodation and food services with a 97.96% increase, information and communication services with an 85.32% increase, real estate services with a 71.10% increase, professional, scientific, and technical services with a 97% increase, as well as administrative and support services with a 48% increase and a 99.22% increase respectively.

In terms of monthly changes, transportation and storage services saw a 2.25% increase, while accommodation and food services saw a 0.95% decrease. Information and communication services experienced a 5.41% increase, real estate services saw a 0.37% decrease, and professional, scientific, and technical services also saw a 0.37% decrease. Administrative and support services had a 6.29% increase, while transportation and storage services had a 1.72% decrease.

These figures highlight the current state of the Turkish service sector, which has seen substantial fluctuations in prices. The increase in the Service Producer Price Index reflects a growing trend in various sectors, indicating potential challenges for businesses and consumers alike.

 

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