Overview

SERVICES PRODUCER PRICE INDEX (2010=100)

SECOND QUARTER 2023

• The SPPI averaged 114.9 points in the second quarter of 2023, an increase of 2.7 per cent as compared to 111.9 in the same quarter of the preceding year.
• Most subsectors recorded an increase of prices in this quarter. The Accommodation and Food & Beverage Service Activities rose by 6.3 per cent (Q1 2023: 8.3%) attributed to the increase in Restaurants & Mobile Food Service Activities (7.2%), while the Transportation subsector increased 4.8 per cent (Q1 2023: 6.5%), contributed by Passenger Air Transport (19.5%).
• In the meantime, the other subsectors that recorded an increase were Arts, Entertainment & Recreation which increased by 2.0 per cent, Education (1.0%), Professional (0.5%) and Health (0.3%). Meanwhile, the index of Real Estate Activities recorded a slight decrease of negative 0.1 per cent and the index of Information & Communication remained unchanged.
• On a quarter-on-quarter basis comparison shows that SPPI marginally increased by 0.2 per cent as compared to 0.3 per cent recorded in the previous quarter.
• This was due to the increase in Arts, Entertainment & Recreation (3.9%), Accommodation and Food & Beverage Service Activities (0.7%), Education (0.2%) and Professional (0.1%) subsectors. Meanwhile, the index of Transportation recorded a decrease of negative 0.6 per cent and index of Health, Real Estate Activities and Information & Communication remained unchanged.

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