Agricultural Input Price Index Sees Monthly Rise of 1.77% and Annual Surge of 31.83%

Foreks - The Agricultural Input Price Index (Agri-IPI) increased by 1.77% monthly and 31.83% annually.

According to the statement made by the Turkish Statistical Institute (TUIK), in the Agri-IPI (2020=100), in September 2024, there was a 1.77% increase compared to the previous month, a 24.50% increase compared to December of the previous year, a 31.83% increase compared to the same month of the previous year, and a 42.52% increase based on twelve-month averages.

In the main categories, compared to the previous month, there was a 1.58% increase in the index for goods and services used in agriculture, and a 2.87% increase in the index for goods and services contributing to agricultural investment. Compared to the same month of the previous year, there was a 29.71% increase in the index for goods and services used in agriculture, and a 45.28% increase in the index for goods and services contributing to agricultural investment.

Changes in the Agri-IPI by main groups (%), September 2024

Index	Change rate compared to the previous month (%)	Change rate compared to December of the previous year (%)	Change rate compared to the same month of the previous year (%)	Change rate based on twelve-month averages (%)
Agri-IPI	602.88	1.77	24.50	31.83
Goods and services used in agriculture	576.44	1.58	22.63	29.71
Goods and services contributing to agricultural investment	814.08	2.87	36.19	45.28

The subgroup with the highest annual change was veterinary expenses, which increased by 74.12%, while the subgroup with the highest monthly change was seeds and planting materials, which increased by 6.10%.