TURKSTAT unveiled two sets of inflation data today. Agricultural Input Price Index for June 2021 and “Non-Domestic Producer Price Index” for July 2021; both pointing at awfully escalated levels. The annual rise in the Agricultural input price index (Agricultural-IPI) reached 27.65% while Turkey’s Non-domestic producer price index (ND-PPI) increased by 41.89% annually. Both indices no doubt cast inflationary pressures on the consumer price index that already stands at 18.95% as per the official figures.
Here are the details.
Non-domestic producer price index (ND-PPI) increased by 41.89% annually and 0.34% monthly
ND-PPI (2010=100) increased by 0.34% monthly and by 20.92% on December of the previous year, by 41.89% on same month of the previous year and by 36.35% on the twelve months moving averages basis in July 2021.
ND-PPI in two main sectors of industry increased by 44.34% for mining and quarrying, by 41.84% for manufacturing compared with the previous year.
The indices of main industrial groups; increased by 50.16% for intermediate goods, by 40.52% for durable consumer goods, by 32.11% for non-durable consumer goods, by 113.53% for energy, by 29.26% for capital goods, annually.
ND-PPI annual rate of change (%), July 2021
Agricultural input price index (Agricultural-IPI) increased by 27.65% annually and 2.76% monthly
Agriculture-IPI (2015=100) increased by 2.76% compared to previous month, increased by 12.21% compared to December of the previous year, increased by 27.65% compared to same month of the previous year and increased by 17.16% compared to twelve months moving averages, in June 2021.
Monthly changes by main groups, goods and services contributing to agricultural investment index increased by 1.78% and goods and services currently consumed in agricultural index increased by 2.92%. The goods and services contributing to agricultural investment index increased by 27.39% and the goods and services currently consumed in agricultural index increased by 27.69% compared to same month of the previous year.
The other subgroups that indicated high increase were farm buildings (non-residential) with 45.13% and maintenance of buildings with 40.16%. On the other hand, seeds and planting stock with 9.60%, plant protection and pesticides with 11.18% and veterinary expenses with 19.65% were the subgroups that low annual increase realized.
Annual rate of changes of Agricultural-IPI (%), June 2021
