Turkey’s March 2021 Agricultural Input Price Index (Agricultural-IPI) edged up 1.33% elevating the annual level to 21.03%.
Turkey’s food price inflation (a sub-category under the consumer prices index) floats at around 20%. The rise in agricultural production costs along with the ongoing severe drought would mean the seasonal drop in food price inflation during the summer months might not take place in 2021.
Annual rate of changes of Agricultural-IPI (%), March 2021
Monthly changes with respect to previous month by main groups:
-goods and services currently consumed in agricultural index increased by 1.29% in March and 20.65% annually,
-goods and services contributing to agricultural investment index increased by 1.51% in March and 23.37% annually.
The highest annual increase was 39.13% in fertilizer and soil improvers subgroup
The other subgroups that indicated high increase were farm buildings (non residental) with 33.01% and maintenance of materials with 30.89%. On the other hand, seeds and planting stock with 4.80%, veterinary expenses with 9.83% and plant protection and pesticides with 11.33% were the subgroups that low annual increase realized.
