PROVISIONAL ESTIMATES OF SERVICE PRODUCER PRICE INDICES (BASE YEAR 2022-23) - 24th August 2026 - Ministry of Commerce and Industry - Gazette Notification PDF
Issued by Ministry of Commerce and Industry
Read or download the official PDF of this gazette notification issued by the Ministry of Commerce and Industry on 24th August 2026. Classified under Press Release.
Executive Summary & Key Takeaways
Executive Summary The Ministry of Commerce & Industry has released the Provisional Estimates of Service Producer Price Indices (PPI) for Q1 of FY 2026-27 and Final Indices for Q4 of FY 2025-26. Based on the 2022-23 base year, the report tracks price fluctuations across seven major service sectors, including banking, transport, and telecom. The next set of indices for Q2 of FY 2026-27 is scheduled for release on Wednesday, November 25, 2026.
Key Points / Main Content
Sectoral Price Indices (Q1 FY 2026-27)
- Aviation: The Air (Passenger) Service Price Index reached 126.4, the highest among the tracked sectors.
- Finance and Banking: The Banking Service Price Index stood at 100.9, while the Banking Service Contribution Index was recorded at 134.8. Securities Transaction Services remained below the base level at 89.9.
- Infrastructure and Communication: Telecom services stood at 112.2, and the overall Railway Service Price Index was 103.4, with passenger services at 103.5 and freight at 103.3.
- Social Services: Management of Pension Funds stood at 113.3, and Insurance services were recorded at 102.9.
Inflation Trends (Year-on-Year)
- Highest Growth: Air (Passenger) services experienced significant year-on-year inflation of 31.94% in Q1 FY 2026-27.
- Negative Growth: Securities Transaction services (-1.32%) and Banking Services (-3.35%) both recorded negative inflation rates for the same period.
- Stability: Insurance (0.98%) and Railway Freight (0.10%) showed marginal positive inflation growth.
Methodology and Data Access
- Weights: While sub-service level weights have been computed using FY 2022-23 data, total weights for the entire service sector have not yet been assigned.
- Availability: Comprehensive quarterly PPI data from Q1 FY 2023-24 to Q1 FY 2026-27 is hosted on the official economic adviser website (eaindustry.nic.in).
Impact Analysis
Government and Policy Makers Impact The document provides essential data to monitor inflation trends within the service sector, which is critical for macroeconomic planning. Action Required Review the Year-on-Year inflation rates, particularly in the aviation and pension sectors, to assess the need for fiscal or regulatory interventions.
Service Providers (Aviation, Telecom, Railways) Impact These entities are directly measured by these indices, reflecting the market price changes for their outputs. Aviation providers, in particular, are seeing high price volatility. Action Required Analyze the provisional indices against internal pricing models and operating costs to remain competitive and compliant with sectoral trends.
Financial Analysts and Researchers Impact The release provides a finalized historical dataset for Q4 FY 2025-26 and provisional data for current-year forecasting. Action Required Update financial models using the latest PPI data and mark November 25, 2026, for the release of the next quarter’s estimates.