Türkiye’s non-domestic producer price index rises by nearly 29% annually in August
A worker cuts newly manufactured bars of steel at the United Cast Bar Group's foundry in Chesterfield, Britain, April 12, 2022. (Reuters/Phil Noble)
Türkiye’s non-domestic producer price index (ND-PPI) recorded a 28.67% increase in August 2024 compared to the same month last year, according to data released by the Turkish Statistical Institute (TurkStat). On a monthly basis, the ND-PPI rose by 2.95% from July 2024.
The index also showed a 20.63% increase compared to December 2023, and a 52.55% rise when considering the 12-month moving averages.
Manufacturing and mining sectors lead annual growth
In August 2024, the ND-PPI for the manufacturing sector rose by 28.6% annually, while the mining and stone quarrying sector saw a larger increase of 32.84%.
The main industrial group indices also reflected significant annual increases:
- Intermediate goods rose by 26.67%
- Durable consumer goods surged by 33.94%
- Non-durable consumer goods increased by 33.09%
- Energy increased slightly by 0.70%
- Capital goods saw a sharp increase of 34.03%
Monthly ND-PPI gains across sectors
On a monthly basis, the ND-PPI for manufactured products increased by 2.98%, while mining and stone quarrying grew by 1.42%.
The main industrial groups posted the following monthly changes:
- Intermediate goods increased by 2.66%
- Durable consumer goods rose by 3.25%
- Non-durable consumer goods increased by 3.03%
- Energy dropped by 4.09%
- Capital goods increased by 4.37%
