The Turkish Statistical Institute released a statement on Monday indicating that the Non-Domestic Producer Price Index (ND-PPI) experienced an annual increase of 58.40% and a monthly increase of 2.28%. The ND-PPI, based on 2010=100, saw a 58.40% rise compared to the previous December, with a similar increase on a twelve-month moving averages basis in December 2023.

Breaking down the sectors, ND-PPI showed a 60.92% annual increase for mining and stone quarrying and a 58.35% increase for manufacturing compared to the previous year. The indices of main industrial groups exhibited varied increases, including 51.29% for intermediate goods, 62.73% for durable consumer goods, 63.44% for non-durable consumer goods, 55.06% for energy, and 66.37% for capital goods, annually.

On a monthly basis, ND-PPI in the mining and stone quarrying sector increased by 2.64%, while manufacturing increased by 2.28%. Monthly changes in the indices of main industrial groups ranged from 1.98% for intermediate goods to 4.04% for capital goods.

Comparing to the general ND-PPI, there were lower annual changes in 10 subdivisions, while 15 subdivisions saw higher rates. The lowest annual increases were observed for paper and paper products, wood and cork products (except furniture), and printing and recording services. The highest annual increases were reported for other manufactured goods, furniture, and machinery and equipment not elsewhere classified.

Monthly changes also varied among subdivisions, with 11 reporting lower rates and 14 showing higher rates. The indices for tobacco products and coke and refined petroleum products saw the highest monthly decreases, while motor vehicles, trailers and semi-trailers, other manufactured goods, and computer, electronic, and optical products saw the highest monthly increases in ND-PPI. (ILKHA)