MARKET OUTLOOK - Service Sector Price Rigidity Eases, First Decline in 38 Months

In November, price rigidity in the service sector in Turkey showed a relaxation for the first time. According to the Turkish Statistical Institute (TSI), there was a monthly decline in service producer prices (H-PPI) for the first time in 38 months. In November, there was a decrease of 0.76% in the prices of service producers. Thus, it marked the first time entering negative territory since the 2.32% decline observed in September 2021. The H-PPI measures price changes by comparing the producer prices of services produced in the country's economy over time during a specific reference period.