The annual rate continues to rise for services prices in the second quarter of 2022
The Services Producer Price Index increased by 2.3 percent in the second quarter of 2022 compared to the first quarter of 2022. Since the second quarter of 2021, the Services Producer Price Index has increased by 7.9 percent. That is the highest annual rate since 2005, when compilation of total SPPI began. The annual rate in the first quarter of 2022 was 6.3 percent.