Exchange rates indirectly impact the consumer once again!

The Turkish Statistical Institute (TÜİK) has released the Overseas Producer Price Index. According to the report, the price index increased by 59.27 percent annually. 

In January 2024, the Overseas Producer Price Index (YD-ÜFE) showed an increase of 4.57% compared to the previous month, an increase of 4.57% compared to December of the previous year, an increase of 59.27% compared to the same month of the previous year, and an increase of 51.72% based on twelve-month averages.

INCREASE IN THE MINING SECTOR

Annual changes in the two sectors of industry were as follows: a 60.76% increase in mining and quarrying, and a 59.24% increase in manufacturing.

Annual changes in main industrial groups were as follows: a 51.36% increase in intermediate goods, a 65.98% increase in durable consumer goods, a 65.37% increase in non-durable consumer goods, a 47.22% increase in energy, and a 69.03% increase in capital goods.