Turkey’s domestic producer inflation tops 114 percent, show official statistics

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The Turkish Statistical Institute (TurkStat) released the Domestic Producer Price Index (D-PPI) for March 2022 yesterday (April 4).

Offering official statistics on Turkey, TurkStat has announced that the D-PPI, the increases in which are called domestic producer inflation, increased by 9.19 percent on a monthly basis, by 29.31 percent on December of the previous year basis, by 114.97 percent on same month of the previous year basis and by 64.30 percent on the twelve months moving averages basis.

D-PPI annual rate of change (%), March 2022

Over 100 percent annual increase in manufacturing

D-PPI in four main sectors of the industry increased annually by 110.36 percent for mining and stone quarrying, by 106.55 percent for manufacturing, by 228.94 percent for electricity, gas, steam and air conditioning, by 42.34 percent for water supply, according to TurkStat.

The indices of main industrial groups increased by 122.92 percent for intermediate goods, by 75.85 percent for durable consumer goods, by 79.70 percent for non-durable consumer goods, by 214.87 percent for energy and by 76.55 percent for capital goods, annually.

Manufacturing increased by 8.92 percent monthly

The TurkStat data has shown that the D-PPI in four main sectors of industry increased by 9.08 percent for mining and stone quarrying, by 8.92 percent for manufacturing, by 11.85 percent for electricity, gas, steam and air conditioning and by 6.88 percent for water supply, monthly.

The indices of main industrial groups increased by 8.86 percent for intermediate goods, by 5.65 percent for durable consumer goods, by 8.59 percent for non-durable consumer goods, by 15.62 percent for energy and they increased by 5.40 percent for capital goods, monthly.

Highest increases in monthly, annual prices

The highest rates of annual increase in D-PPI by subdivisions of industry were indices for coke and refined petroleum products by 256.44 percent, for electricity, gas, steam and air conditioning by 228.94 percent and for crude petroleum and natural gas by 221.04 percent.

The lowest rates of annual increase in D-PPI by subdivisions of industry were the indices for wearing apparel by 38.82 percent, for water; water treatment and supply services by 42.34 percent, for basic pharmaceutical products and pharmaceutical preparations by 43.17 percent.

According to TurkStat, in March 2022, the highest rates of monthly increase in D-PPI by subdivisions of industry were indices for coke and refined petroleum products by 35.99 percent, for other non-metallic mineral products by 14.40 percent and, for basic metals by 12.09 percent.

The lowest rates of monthly increase in D-PPI by subdivisions of industry were the indices for paper and paper products by 1.14 percent, for leather and related products by 2.96 percent and for coal and lignite by 3.03 percent. (SD)