June sees significant increases in the Service Producer Price Index, with transportation, accommodation, and real estate sectors experiencing the highest growth rates, according to TUIK data.
In June, Turkiye’s Service Producer Price Index (SPPI) reported a substantial rise, climbing by 5.3% on a monthly basis and an impressive 77.41% on a yearly basis, according to data released by the Turkish Statistical Institute (TUIK). The SPPI, which measures price changes in the service sector, highlights significant inflationary pressures across various industries.
The Service Producer Price Index increased by 5.3% in June compared to the previous month, 37.96% compared to December of the previous year, 77.41% compared to the same month last year, and 81.16% based on 12-month averages.
Year-on-year, the index showed dramatic rises across different sectors: transportation and storage services grew by 73.02%, accommodation and food services by 78.98%, information and communication services by 79.69%, real estate services by 80.04%, professional, scientific, and technical services by 86.1%, and administrative and support services by 80.71%.
Month-to-month changes reflect significant increases as well: transportation and storage services rose by 4.51%, accommodation and food services by 6.98%, information and communication services by 5.66%, real estate services by 10.75%, professional, scientific, and technical services by 0.95%, and administrative and support services by 7.28%.
These figures underscore the accelerating costs within the service sector, reflecting broader economic trends and inflationary pressures affecting Turkiye’s market.
Source: AA / Prepared by Irem Yildiz