Services PPI grew by 36.16% annually in August 2023.

Service Producer Price Index (SPPI) August 2023 Results

As of August 2023, the Service Producer Price Index (SPPI) increased by 2.47% compared to the previous month, while a rise of 34.48% was recorded compared to December of last year. On an annual basis, the SPPI stood out with an increase of 36.16% compared to the same month of the previous year. The increase according to the twelve-month averages was determined as 42.09%.

Year-on-Year Increase in Transportation and Storage Services

Transportation and storage services showed an increase of 28.91% compared to the same month of the previous year, while this rate was 36.51% in accommodation and food services, 41.62% in information and communication services, and 49.24% in real estate services. Additionally, an increase of 47.17% was experienced in professional, scientific, and technical services, and an increase of 41.54% was observed in administrative and support services.

Monthly Increases in the Service Sector

When evaluated on a monthly basis, an increase of 1.91% was recorded in transportation and storage services, 2.35% in accommodation and food services, 3.01% in information and communication services, 2.95% in real estate services, 3.23% in professional, scientific and technical services, and 3.17% in administrative and support services.