Turkey's annual producer inflation in agriculture tops 68 percent

* Photo: Pexels

The Turkish Statistical Institute (TurkStat), the agency responsible for producing official statistics on Turkey, has shared the Producer Price Index of Agricultural Products (Agriculture-PPI) for February 2022.

According to the TurkStat figures, while the PPI of Agricultural Products increased by 13.74 percent in a month, it increased by 30.61 percent when compared to last December, by 68.49 percent in a year and by 30.88 percent on the basis of 12 months moving averages.

The month before, in January, the PPI of Agricultural Products had increased by 14.83 percent in a month, it had increased by 52 percent in a year and by 26.55 percent on the basis of 12 months moving averages.

Agriculture-PPI annual change (%), February 2022 (Source: TurkStat)

Compared to the previous month in sectors; fishing products and other fishing products increased by 7.40 percent, products of agriculture, hunting and related services increased by 13.49 percent and forestry products and related services increased by 26.22 percent in February 2022.

Regarding monthly changes by main groups; live animals and animal products increased by 4.67 percent, perennial crops increased by 11.72 percent and non-perennial crops increased by 19.95 percent.

Annual increase in fiber plants: 196 percent

The TurkStat figures have further shown that fiber plants with 196.22 percent, vegetables and melons, roots and tubers with 112.15 percent and cereals (except rice), leguminous crops and oil seeds with 92 percent were the subgroups where high annual increases were seen.

According to the same data, citrus fruit with 20.86 percent and sheep and goats, live; and raw milk and shorn wool from sheep and goats with 26.19 percent were the subgroups with the lowest annual increase.

Oleaginous fruits with 0.77 percent and sheep and goats, live; and raw milk and shorn wool from sheep and goats with 3.36 percent were the subgroups that indicated the lowest monthly increase.

On the other hand, vegetables and melons, roots and tubers with 26.81 percent and fiber plants with 20.97 percent were the subgroups that indicated high monthly increase. Other farmed animals and animal products with 5.54 percent was the only subgroup with a monthly decrease.

Prices of only 7 items decreased

In February 2022, within average prices of 86 items in the index; the average prices of 7 items decreased and the average prices of 4 items remained unchanged while the average prices of 75 items increased. (SD)