Producer Inflation in Agriculture Rises Again After Four-Month Hiatus

The producer price index for agricultural products (Agricultural PPI) increased by 35.46% year-on-year as of October 2024. In the same period, the monthly increase was recorded at 5.03%.

The increase in the Agricultural PPI compared to December of the previous year was 26.32%, while the twelve-month averages showed an increase of 49.55%. The reported figures indicate a general rise in costs for agricultural products. Moreover, this situation has varying levels of impact across different sectors within the industry.

Sectoral differences are noteworthy. The sector related to agricultural and hunting products saw a 5.34% increase compared to the previous month. However, forestry products and related services experienced a decrease of 1.56%. In the sector dealing with fish and other fishing products, there was an increase of 2.23%. These variations clearly indicate the fluctuations within the sector and economic volatility.

In the main groups, annual increases were as follows: single-year crops rose by 13.27%, while multi-year crops recorded a 1.82% increase. The increase in live animals and animal products was limited to 0.24%.

The highest annual increase was observed in the citrus group, which saw a rise of 185.25%. This same group also exhibited the highest monthly increase of 85.17%.