Türkiye's producer prices surge 65.53% year-on-year in April

The index climbed 65.53% year-on-year, indicating a substantial increase in the prices producers pay for goods and services.

While the monthly increase was more modest at 1.37%, it still reflects ongoing inflationary pressures. Compared to December 2023, the ND-PPI grew by 13.64%.

The price surge was widespread across various sectors. Manufactured goods saw a 65.46% annual increase, while mining and quarrying experienced a steeper rise of 69.45%. The cost of energy also jumped significantly, with the ND-PPI for this sector increasing by 74.24% year-on-year.

Looking at specific product categories, durable consumer goods like appliances witnessed the highest annual increase of 70.12%, followed by non-durable consumer goods (70.03%) and intermediate goods (58.07%). Capital goods, which include machinery and equipment, also saw a substantial price increase of 72.01% year-on-year.

The monthly breakdown shows a similar trend. The ND-PPI for manufactured goods rose 1.33% compared to March 2024. The mining and quarrying sector saw a more pronounced monthly increase of 3.57%, while manufacturing itself experienced a 1.33% rise.

Energy prices again showed the most significant monthly fluctuation, with the ND-PPI for this sector going up by 2.68%. The price changes for other categories were more moderate, ranging from a 0.59% increase for durable consumer goods to a 1.65% increase for intermediate goods. (ILKHA)