Air passenger service prices rise 32% in June quarter; rail fares up 3.5%

During the June quarter, there was a striking 32 percent year-on-year increase in air passenger service prices, the steepest rise amongst seven essential services tracked. Meanwhile, railway passenger prices rose by 3.50 percent and banking services saw a 6.90 percent inflation. Interestingly, both securities transactions and certain banking services experienced deflation. The upcoming producer price index data aims to accurately capture changes in producer-level pricing.