Agricultural input inflation reached 45.11 percent in January

The Turkish Statistical Institute (TÜİK) has announced the Agricultural Input Price Index (Tarım-GFE) for January 2024.

In January 2024, there was an increase of 7.51 percent compared to the previous month, 7.51 percent compared to December of the previous year, 45.11 percent compared to the same month of the previous year, and 36.81 percent based on twelve-month averages.

In the main groups, compared to the previous month, there was an increase of 7.27 percent in the index for goods and services used in agriculture, and an increase of 9.07 percent in the index for goods and services contributing to agricultural investment. Compared to the same month of the previous year, there was an increase of 41.22 percent in the index for goods and services used in agriculture, and an increase of 74.88 percent in the index for goods and services contributing to agricultural investment.

THE HIGHEST EXPENDITURE ITEM HAS BEEN IDENTIFIED

According to the annual Agricultural Input Price Index, 4 sub-groups showed a lower change, while 7 sub-groups showed a higher change. The sub-group with the highest annual change was veterinary expenses at 167.95 percent.

According to the monthly Agricultural Input Price Index, 6 sub-groups showed a lower change, while 5 sub-groups showed a higher change. The sub-group with the highest monthly change was veterinary expenses at 29.35 percent.