Turkey’s agricultural input price index soars to 123.73% annually
Agricultural input price index (Agricultural-IPI) increased by 123.72% annually and 5.51% monthly, the Turkish Statistical Institute said on Friday.
Agriculture-IPI (2015=100) increased by 5.51% compared to previous month, increased by 67.77% compared to December of the previous year, increased by 123.72% compared to same month of the previous year and increased by 61.54% compared to twelve months moving averages, in May 2022.
Monthly changes by main groups, goods and services contributing to agricultural investment index increased by 5.15% and goods and services currently consumed in agricultural index increased by 5.55%. The goods and services contributing to agricultural investment index increased by 67.70% and the goods and services currently consumed in agricultural index increased by 133.09% compared to same month of the previous year.
Compared to general Agricultural-IPI, lower annual change observed in 7 subgroups while 4 subgroups were higher
Subgroups that indicated low increase were veterinary expenses with 32.06% and seeds and planting stock with 45.53%. On the other hand, fertilizer and soil improvers with 236.45% and energy; lubricants with 184.42% were the subgroups that high annual increase realized.
Compared to general Agricultural-IPI, lower monthly change observed in 8 subgroups while 3 subgroups were higher
Fertilizer and soil improvers with 1.01% and energy; lubricants with 1.22% were subgroups that indicated low monthly increase. On the other hand, animal feedingstuffs with 8.65% and other goods and services with 8.00% were the subgroups that high monthly increase realized. (ILKHA)