What Happened
The Ministry of Commerce & Industry released the Provisional Estimates of Service Producer Price Indices (SPPI) for the first quarter of fiscal year 2026-27 (Q1 FY 2026-27) on August 24, 2026. The release also included the Final Estimates for the fourth quarter of fiscal year 2025-26 (Q4 FY 2025-26), establishing a base year of 2022-23 for these indices.
Key Facts
- The Air (Passenger) Service Price Index showed the most significant provisional increase, rising from 106.9 in Q4 FY 2025-26 to 126.4 in Q1 FY 2026-27. Its Year-on-Year (YoY) inflation rate was 31.94% for Q1 FY 2026-27.
- The Management of Pension Funds Service Price Index provisionally increased to 113.3 in Q1 FY 2026-27 from 103.8 in the preceding quarter. Its YoY inflation rate for Q1 FY 2026-27 stood at 5.20%.
- The Banking Service Contribution Index provisionally rose to 134.8 in Q1 FY 2026-27 from 131.5 in Q4 FY 2025-26, with a YoY inflation rate of 6.90%.
- Securities Transaction Service Price Index provisionally decreased from 91.7 in Q4 FY 2025-26 to 89.9 in Q1 FY 2026-27, registering a -1.32% YoY inflation rate.
- Insurance Service Price Index and Telecom Service Price Index remained stable at 102.9 and 112.2, respectively, for both Q4 FY 2025-26 and Q1 FY 2026-27.
- The Railway Service Price Index saw a slight provisional increase to 103.4 in Q1 FY 2026-27 from 103.3 in Q4 FY 2025-26, with a YoY inflation rate of 1.27%.
Why It Matters
This data provides a current snapshot of price changes from the producers' perspective across key service sectors in the Indian economy. Monitoring these provisional and final indices helps track inflationary pressures and economic shifts within these services.
What To Watch
The Service Producer Price Indices for the second quarter of FY 2026-27 are scheduled for release on Wednesday, November 25, 2026.
