The Overseas Producer Price Index increased by 58.40 percent annually and 2.28 percent monthly in December.

The Turkish Statistical Institute (TÜİK) has announced the Overseas Producer Price Index (YD-ÜFE) data for December. Accordingly, the YD-ÜFE increased by 2.28 percent in December 2023 compared to the previous month, 58.40 percent compared to December of the previous year, 58.40 percent compared to the same month of the previous year, and 50.92 percent based on twelve-month averages.

In the annual change of the manufacturing sector, mining and quarrying showed an increase of 60.92 percent, and manufacturing showed an increase of 58.35 percent. In the annual changes of the main industrial groups, an increase of 51.29 percent was recorded in intermediate goods, 62.73 percent in durable consumer goods, 63.44 percent in non-durable consumer goods, 55.06 percent in energy, and 66.37 percent in capital goods.

On a monthly basis, mining and quarrying showed an increase of 2.64 percent, and manufacturing showed an increase of 2.28 percent. In the monthly changes of the main industrial groups, there was an increase of 1.98 percent in intermediate goods, 3.31 percent in durable consumer goods, 2.30 percent in non-durable consumer goods, a decrease of 3.32 percent in energy, and an increase of 4.04 percent in capital goods.

While a decrease was observed in 10 sub-sectors and an increase in 15 sub-sectors on an annual basis, a decrease was observed in 11 sub-sectors and an increase in 14 sub-sectors on a monthly basis. While the paper and paper products and wood and cork products (excluding furniture) sub-sectors recorded the lowest increase in the index, the other manufactured goods and furniture and n.e.c. machinery and equipment sub-sectors showed the highest increase. Tobacco products and coke and refined petroleum products were the sub-sectors that showed the most decrease in the index.

News Source: İHA