New Delhi, Aug. 25 -- India's service producer prices showed a sharp divergence across sectors in the first quarter of FY27 (Q1FY27), with air passenger services recording a 31.94% year-on-year increase, while banking service prices remained in deflation, according to provisional estimates released by the government on Monday. The air (passenger) service price index rose to 126.4 in Q1 FY27 from 106.9 in the fourth quarter of FY26. Its year-on-year inflation stood at 31.94% in the latest quarter, the highest among the seven services covered in the Service Producer Price Index. The management of pension fund service price index recorded the second-highest annual jump, rising 5.20% in Q1FY27. The index rose to 113.3 from 103.8 in Q4FY26. Banking service price index rose marginally to 100.9 in Q1 from 100.5 in Q4 FY26, but remained in deflation, with year-on-year inflation at -3.35%, compared with -4.10% in the previous quarter. In contrast, the banking service contribution index accelerated, with year-on-year inflation rising to 6.90% in Q1 FY27 from 3.30% in Q4FY26. The index increased to 134.8 from 131.5 during the quarter. The securities transaction service price index fell to 89.9 in Q1FY27 from 91.7 in Q4FY26, with year-on-year inflation turning negative to -1.32%, down from 0.55%. The insurance service price index was steady at 102.9, while year-on-year inflation inched up to 0.98% from 0.68% in Q4FY26. The telecom service price index also remained unchanged at 112.2, with year-on-year inflation easing to 0.72% from 0.99%. Railway service prices rose marginally during the quarter. The railway service price index rose to 103.4 from 103.3, while year-on-year inflation increased to 1.27% from 1.18%....