Turkiye's non-domestic producer price index up 59.24% in August 2023

The ND-PPI, measured with a base year of 2010, marked a 48.50 per cent increase compared to December of the previous year. The yearly increase compared to the same month last year was 59.24 per cent. When assessed on a twelve-month moving average, the ND-PPI showed a rise of 55.86 per cent.

The manufacturing sector saw a particularly steep annual increase of 59.33 per cent. Among the main industrial groups, intermediate goods increased by 50.89 per cent, durable consumer goods by 65.91 per cent, non-durable consumer goods by 60.55 per cent, and energy by 44.19 per cent, annually, as per Turkstat.

On a monthly basis, the ND-PPI in manufacturing noted an increase of 1.94 per cent. Breaking it down further, intermediate goods saw a monthly rise of 0.81 per cent, durable consumer goods surged by 2.84 per cent, non-durable consumer goods increased by 1.87 per cent, and energy prices shot up by 7.93 per cent.

While 12 subdivisions recorded lower annual changes compared to the general ND-PPI, 13 showed higher increases. Specifically, the annual increase for wearing apparel stood at 61.03 per cent, and for textile, it was 57.48 per cent.

A similar trend was observed on a monthly basis, where 16 subdivisions recorded lower changes, and 9 were higher compared to the general ND-PPI. The monthly increase for wearing apparel was at 2.98 per cent, and for textile, it was notably lower at 0.69 per cent.

ALCHEMPro News Desk (DP)