Overview

SERVICES PRODUCER PRICE INDEX (2010=100)

THIRD QUARTER 2024

• The Services Producer Price Index (SPPI) increased marginally by 0.3 per cent in the third quarter of 2024 as compared to 0.7 per cent in the previous quarter.
• The Arts, Entertainment & Recreation index rose 5.4 per cent as against 7.7 per cent in the second quarter of 2024 contributed by the Other Amusement & Recreation Activities (0.9%). The index of Accommodation and Food & Beverage Service Activities continued to increase by 2.4 per cent (Q2 2024: 2.4%) attributed to Beverage Service Activities (3.7%) and Restaurants & Mobile Food Service Activities (2.5%). Meanwhile, the Education index inched up 0.8 per cent, contributed by Secondary Education (1.7%). In the meantime, Health index increased by 0.3 per cent, while Professional and Real Estate Activities indices inclined by 0.2 per cent and 0.1 per cent, respectively.
• Conversely, the Transport index shrank by 2.0 per cent (Q2 2024: -1.4%), particularly due to Passenger Air Transport index (-8.1%). Apart from that, the Information & Communication index continued to decrease by 0.1 per cent (Q2 2024: -0.1%) due to Wireless Telecommunication Activities index (-0.2%).
• On a quarter-on-quarter basis comparison, SPPI increased by 0.1 per cent after a decrease of 0.1 per cent in the second quarter of 2024.
• This was mainly due to Accommodation and Food & Beverage Service Activities and Arts, Entertainment & Recreation, where both indices recorded an increase of 0.9 per cent. In addition, the Education index also increased by 0.2 per cent. Meanwhile the index of Health, Professional, Information & Communication indices remained unchanged. However, Transportation and Real Estate Activities indices declined by 0.6 per cent and 0.5 per cent, respectively.

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