Record increase in service producer inflation continues

record increase in service producer inflation continues 0 RwEyz7fl

TURKSTAT published the Service Producer Price Index, February 2022 data. Accordingly, the producer price index of services increased by 78.09 percent year on year and 3.78 percent monthly.

In February 2022, it increased by 17.36 percent compared to December of the previous year, by 78.09 percent compared to the same month of the previous year and by 41.85 percent according to the twelve-month averages.

Compared to the same month of the previous year, 101.45 percent in transportation and storage services, 60.00 percent in accommodation and food services, 35.04 percent in information and communication services, 190.51 percent in real estate services, professional, scientific and There was an increase of 37.98 percent in technical services and 58.18 percent in administrative and support services.

Compared to the previous month, 4.74 percent increase in transportation and storage services, 4.15 percent increase in accommodation and food services, 4.11 percent increase in information and communication services, 0.08 percent decrease in real estate services, professional, scientific and technical services increased by 2.76% and administrative and support services increased by 2.49%.

Six sub-sectors increased

The lowest annual increase in H-PPI sectors; 15.79 percent in telecommunication services, 22.79 percent in legal and accounting services, and 26.47 percent in office management, office support and other business support services. On the other hand, real estate services by 190.51 percent, waterway transportation services by 190.21 percent, storage and support services (for transportation) by 132.03 percent were the sub-sectors in which the indices increased the most.

In the H-PPI, air transport services were the sub-sectors that decreased by 0.45 percent, information services by 0.23 percent, and real estate services by 0.08 percent. On the other hand, postal and courier services by 7.90 percent, programming and broadcasting services by 7.03 percent, land transportation and pipeline transportation services by 6.18 percent, were the sub-sectors where the indexes increased the most.

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