Turkey's annual producer inflation in agriculture sees new record at 68 percent
Turkey’s producer price index of agricultural products hit 68.49 percent year-on-year in February, the highest in 11 years, TÜİK announced on March 15.
Turkey’s annual producer price index of agricultural products (Agriculture-PPI) hit 68.49% in February, according to data on March 15, reaching a record level since the base year of 2011.
On a monthly basis, the index rose by 13.74%, the Turkish Statistical Institute (TÜİK) said.
Citrus fruit with 20.86% and sheep and goats, live; raw milk and shorn wool from sheep and goats with 26.19% were the subgroups that indicated the lowest annual price increase. On the other hand, fibre plants with 196.22%, vegetables and melons, roots and tubers with 112.15% and cereals (except rice), leguminous crops and oil seeds with 92.00% were the subgroups where high annual price increases realized.
Turkey reported an annual inflation of 54.4 percent in February, while independent research group ENAG put the figure at 123.80%.