The Turkish Statistical Institute (TurkStat) reported on Monday that the Non-Domestic Producer Price Index (ND-PPI) surged by 32.35% year-on-year in September 2024, with a monthly increase of 2.25%.

According to the statement, the ND-PPI increased by 23.34% compared to December 2023 and showed a 50.09% rise based on twelve-month moving averages.

The data highlighted sector-specific rises, with mining and stone quarrying seeing a 36.93% annual increase and manufacturing up by 32.27%.

In terms of main industrial groups, intermediate goods increased by 30.35%, durable consumer goods by 38.17%, non-durable consumer goods by 35.67%, and capital goods saw a substantial rise of 41.21%. However, energy recorded a 5.88% decrease over the year.

On a monthly basis, manufactured products experienced a 2.25% rise. Mining and stone quarrying increased by 2.48%, while manufacturing mirrored the overall monthly increase of 2.25%. Intermediate goods rose by 1.91%, durable consumer goods by 1.58%, non-durable consumer goods by 2.25%, and capital goods by 3.89%. Conversely, the energy sector faced a 4.22% monthly decline.

These significant rises in the ND-PPI underscore the ongoing inflationary pressures within Turkey’s industrial sector. (ILKHA)