AGRICULTURAL INPUT PRICES SURGE

The Agricultural Input Price Index (Agriculture-IPI) increased by 1.98% in July on a monthly basis, 14.44% compared to December 2020, 29.38% on an annual basis and 19.05% over 12-month averages, according to the Turkish Statistical Institute (TurkStat). As for monthly changes in critical groups: goods and services contributing to the agricultural investment index rose by 0.68%, while goods and services currently consumed in the agricultural index increased by 2.20%. Annual changes for the same critical groups are as follows: goods and services contributing to the agricultural investment index surged by 27.01% year over year while goods and services currently consumed in the agricultural index rose by 29.78% in the same period. The annual and monthly increases were seen in fertilizer and soil booster subgroup, which surged by 62.43% and 6.16%, respectively.