Agricultural input inflation was 34.3 percent in July

The Turkish Statistical Institute (TUIK) announced the agricultural input price index for July 2023.

Thus, the Agriculture-GFE in July 2023 was 6.56 percent compared to the previous month, 21.29 percent compared to December of the previous year, 34.32 percent compared to the same month of the previous year and 69.23 percent percent based on twelve-month averages. increase.

The 6.56 percent monthly increase recorded in July was recorded as the largest increase in the last 15 months. Agriculture-GFE last recorded a monthly increase of 7.92 percent in June 2022.

In the main groups, there was a 5.71 percent increase in the index of goods and services used in agriculture and an 11.90 percent increase in the index of goods and services contributing to agricultural investment compared to The last month.

Compared with the same month of the previous year, there was a 29.17 percent increase in the index of goods and services used in agriculture and a 76.25 percent increase in the index of goods and services contributing to agriculture. agricultural investment.

ITEMS WITH HIGHEST MONTHLY AND ANNUAL INCREASES

The subgroups with the smallest increase compared to the same month of the previous year were fertilizers and soil amendments with 2.26 percent and energy and oils with 13.20 percent.

The subgroups with the highest annual increase were veterinary expenses with 95.89 percent and other goods and services with 89.23 percent, respectively.

The subgroups with the smallest increase compared to the previous month were agricultural chemicals with 1.65 percent and seeds and planting materials with 2.28 percent, respectively.

On the other hand, the subgroups with the highest monthly increase were energy and fats with 23.76 percent and veterinary expenses with 18.80 percent, respectively.

The only subgroup that showed a decrease compared to the previous month was animal feed, with 0.38 percent.