Turkish non-domestic producer inflation shows strong annual and monthly increases

According to the report, the ND-PPI experienced a substantial 32.13% increase on an annual basis, while monthly growth stood at a steady 0.45%. These figures indicate a robust performance for Turkey's industrial sector.

The manufacturing industry, in particular, demonstrated impressive growth, recording a 32.24% annual increase. Within the two main sectors of industry, mining and stone quarrying saw a significant rise of 26.05%, while manufacturing experienced a similar surge of 32.24% compared to the previous year.

Analyzing the indices of the main industrial groups, intermediate goods witnessed a noteworthy annual increase of 30.05%. Durable consumer goods and non-durable consumer goods also showed positive growth, with annual rates of 39.88% and 36.35%, respectively. On the other hand, the energy sector experienced a decline of 14.87%, while capital goods enjoyed a substantial annual increase of 39.51%.

Examining the monthly changes, manufacturing once again displayed a consistent performance, maintaining a 0.45% increase. The mining and stone quarrying sector also saw growth, albeit slightly higher at 0.48% compared to the previous month.

Within the subdivisions of the industry, the report noted that four subdivisions experienced lower annual changes compared to the general ND-PPI, while 21 subdivisions saw higher annual changes. The index for coke and refined petroleum products showed the sole annual decrease at 14.87%. In contrast, the highest rates of annual increase were observed in the indices for machinery and equipment n.e.c. (50.57%), beverages (49.89%), and other non-metallic mineral products (48.93%).

Similarly, in terms of monthly changes, five subdivisions demonstrated lower rates of change compared to the general ND-PPI, while 20 subdivisions exhibited higher rates. The indices for coke and refined petroleum products experienced the highest monthly decrease at 9.07%, followed by metal ores (1.68%) and basic metals (0.49%). Conversely, the indices for printing and recording services (4.05%), other manufactured goods (3.36%), and tobacco products (3.11%) witnessed the highest monthly increases.

The latest data on Turkey's Non-Domestic Producer Price Index suggests a robust and thriving industrial sector, with consistent growth on both annual and monthly scales. These positive trends bode well for the country's overall economic outlook. (ILKHA)