Inflation of agricultural inputs was 49.70 percent in March

The Statistical Institute of Turkey announced the Agricultural Input Price Index for the period of March 2023. Consequently, the Agricultural Input Price Index (Agriculture-GFE) increased 49.70 percent annually and 1.41 percent monthly.

In Agriculture-GFE (2015=100), in March 2023 it was 1.41 percent compared to the previous month, 9.05 percent compared to December of the previous year, 49.70 percent compared to the same month from the previous year and twelve-month averages There was an increase of 106.81 percent over the previous year.

Source: TURKSTAT

HIGHEST AND LOWEST RISE GROUPS

In the main groups, compared to the previous month, the index of goods and services used in agriculture increased 1.03% and the index of goods and services that contribute to agricultural investment increased 4.04 percent.

With respect to the same month of the previous year, there was an increase of 45.97 percent in the index of goods and services used in agriculture, and an increase of 80.40 percent in the index of goods and services that contribute to the agricultural investment.

The subgroups with low annual increase were energy and oils with 11.58 percent and fertilizers and soil improvers with 20.40 percent, respectively. On the other hand, the subgroups with the highest annual increase were other goods and services with 104.11 percent and materials with 93.27 percent, respectively.

The subgroups that decreased compared to the previous month were fertilizers and soil improvers with 2.12 percent and energy and oils with 0.74 percent, respectively. On the other hand, the subgroups with the highest monthly increase were materials with 5.07 percent and seeds and planting materials with 2.85 percent, respectively.