Inflation of agricultural inputs was 69.99 percent in February

The Statistical Institute of Turkey announced the Agricultural Input Price Index for the February 2023 period. Consequently, the Agricultural Input Price Index (Agriculture-GFE) increased 69.99 percent annually and 1.22 percent monthly.

In Agriculture-GFE (2015=100), in February 2023, 1.22 percent compared to the previous month, 7.53 percent compared to December of the previous year, 69.99 percent compared to the same month of the previous year and twelve month averages. it was an increase of 114.79 percent compared to the previous year.

HIGHEST AND LOWEST RISE GROUPS

Compared to the previous month, the index of goods and services used in agriculture increased 0.97 percent and the index of goods and services that contribute to agricultural investment increased 2.92 percent in the main groups. With respect to the same month of the previous year, there was an increase of 67.77 percent in the index of goods and services used in agriculture, and an increase of 87.00 percent in the index of goods and services that contribute to the agricultural investment.

The subgroups that presented a decrease compared to the previous month were energy and oils with 3.95 percent and fertilizers and soil improvers with 2.48 percent, respectively. For their part, the subgroups with the highest monthly increase were materials with 2.95 percent and animal feed with 2.89 percent, respectively.

The subgroups with the lowest annual increase were machinery maintenance costs with 37.34 percent and energy and oils with 38.63 percent, respectively. On the other hand, the subgroups with the greatest annual increase were other goods and services with 109.23 percent and materials with 96.63 percent, respectively.