According to TUIK data, the producer price index of agricultural products increased by 5 percent monthly and 157.89 percent annually. The highest increase was in May with 154.97%. This new record coming out of the field is expected to be reflected in consumer inflation as an increase again.
Turkish Statistical Institute (TUIK) announced the July 2022 results of the Agricultural Products Producer Price Index (Agriculture-PPI), which is calculated to monitor the changes in the first hand sales prices of the products sold by the farmers. Accordingly, in July, agriculture-PPI increased by 5 percent compared to the previous month, by 108.78 percent compared to December of the previous year, by 157.89 percent compared to the same month of the previous year and by 79.39 percent according to the 12-month averages.
The index broke a record with an increase of 154.97 percent in May, and fell from a record level in June with an annual increase of 148.9 percent. Thus, the index renewed its record with the level it reached on an annual basis as of July. This new record is expected to be reflected in consumer inflation as an increase again.
HIGHEST INCREASE IN LEGUMES AND OIL SEEDS
Compared to the previous month, there was a decrease of 2.66 percent in forestry products and related services, an increase of 4.78 percent in agricultural and hunting products and related services, and an increase of 25.09 percent in fish and other fishery products.
Compared to the previous month, there was an increase of 1.02% in perennial plant products, 4.94% in one-year plant products and 7.29% in live animals and animal products in the main groups.
74.57 PERCENT DECREASE IN SHEEP AND GOATS
The subgroups with low annual increase are sheep and goats, live, with 74.57 percent, respectively; their unprocessed milk and fleece and other farm animals and animal products with 75.65 percent.
On the other hand, the subgroups with the highest annual increase were fibrous plants with 256.06 percent and cereals (excluding rice), legumes and oil seeds with 201.62 percent, respectively. The subgroups in which the decrease was higher compared to the previous month were fibrous plants with 6.68 percent and pome fruits and stone fruits with 5.66 percent, respectively.
On the other hand, the subgroup with the highest monthly increase was live poultry and eggs with 22.47 percent and rice with 13.70 percent.