1 week ago
Government Releases Q1 Service PPI Estimates, Banking Index Rises
The government published new numbers about prices for some services.
These numbers cover seven areas, including banking, insurance, telecom, railways and air travel.
Banking prices increased slightly from the previous quarter.
Pension fund management prices also rose and grew compared with the same period last year.
Air passenger prices increased much more sharply.
Insurance and telecom prices stayed at the same index levels.
Securities transaction prices fell compared with the previous quarter.
The government said these service indexes do not represent the whole services sector because they have no weights across services.
The government released provisional Service PPI estimates for the first quarter of FY27, covering seven services.
The banking Services PPI rose to 100.9, while its contribution index increased to 134.8.
Pension fund management prices rose to 113.3, reversing a year-on-year contraction recorded in the previous quarter.
Air passenger service prices increased sharply, with the index reaching 126.4 and year-on-year growth at 31.94%.
Insurance and telecom prices were stable, while securities transaction prices and their year-on-year movement declined.
- Who
- The Ministry of Commerce and Industry released the provisional estimates.
- What
- It released Service Producer Price Indices for the first quarter of fiscal year 2026-27.
- Where
- New Delhi.
- When
- The estimates were released on Monday; Q1 FY27 covers the first quarter of fiscal year 2026-27.
- Why
- The article does not specify a further reason beyond releasing the provisional service-price estimates.
Key facts
- Coverage
- The Service PPIs cover seven services.
- Base year
- 2022-23.
- Banking Services PPI
- Rose to 100.9 in Q1 FY27 from 100.5 in Q4 FY26.
- Banking Service Contribution Index
- Rose to 134.8 from 131.5, with year-on-year growth of 6.9%.
- Air Passenger Service Price Index
- Rose to 126.4 from 106.9, with year-on-year growth of 31.94%.
- Securities Transaction Service Price Index
- Declined to 89.9 from 91.7, with year-on-year movement of negative 1.32%.
- Next release
- Q2 FY27 Service PPI data is scheduled for November 25, 2026.
Sources
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