{
  "id": 2997935,
  "title": "Air passenger service prices rise 32% in June quarter; rail fares up 3.5%",
  "url": "https://urgent.news/2026/08/24/air-passenger-service-prices-rise-32-in-june-quarter-rail-fares-up-3-5",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T09:55:28.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/indicators/air-passenger-service-prices-rise-32-in-june-quarter-rail-fares-up-3-5/articleshow/133460176.cms"
  },
  "original_language": "en",
  "account": "In June 2026, air passenger service prices surged by a substantial 32% on an annual basis, marking the highest inflation rate among the seven major services. The provisional Service Producer Price Indices (PPI) for the first quarter of the fiscal year 2026-27 were released by the Indian government on Monday. The PPI covers seven services - Banking, Securities Transaction, Insurance, Management of Pension Funds, Railways, Air (Passenger), and Telecom, with the base year set at 2022-23.\n\nThe Commerce and Industry Ministry also provided the final estimates for inflation in Service PPI for the March quarter of the 2025-26 fiscal year. According to the data, the Air (Passenger) Service Price Index inflation rose by 31.94% year-on-year. However, there is no sequential inflation data available as the price reference period for this sector is based on the 2025-26 fiscal year.\n\nRailway passenger service prices, on the other hand, experienced a 3.50% inflation in the June quarter of the current fiscal year, identical to the rate observed in the March quarter of FY26. Meanwhile, banking service prices saw a slight deflation of 6.90% in Q1 of FY27, compared to a deflation of 3.30% in the previous fiscal quarter. The Securities Transaction Service Price Index witnessed a deflation of 1.32% in the June quarter, contrasting with an inflation of 0.55% in the March quarter.\n\nInflation rates in the pension funds, insurance, and telecom sectors were recorded at 5.20%, 0.98%, and 0.72% respectively in the June quarter. These figures contrast with inflation of (-)0.76%, 0.68%, and 0.99% recorded in the March quarter for these sectors. The government plans to expand the range of services included in the Service PPI data.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Economy",
        "title": "India’s new service price gauge shows mixed Q1 trends; Air (Passenger) Service Price Index up 32%",
        "url": "https://urgent.news/2026/08/24/indias-new-service-price-gauge-shows-mixed-q1-trends-air-passenger",
        "published": "2026-08-24T07:28:34.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}