Turkey’s export producer index shows a 130.31 per cent annual energy rise
Turkey’s export producer price index rose 33.64 per cent annually in September, with energy prices increasing far faster than other industrial groups. The overall monthly increase slowed to 2.82 per cent, even as the annual rate edged higher. Manufacturing and mining both recorded price increases, while capital goods had the smallest annual rise among the main groups.
Economics & Markets··Evening
The annual rate rises as the monthly pace slows
Turkey’s export producer price index increased 33.64 per cent annually in September and 2.82 per cent from August. The index measures producer prices for goods sold abroad. The figures released by the Turkish Statistical Institute show an annual acceleration from 32.60 per cent in August, alongside a slower monthly increase than August’s 3.61 per cent.[1], [2]
Against December of the previous year, the index rose 28.69 per cent. The increase based on twelve-month averages was 32.82 per cent.[1], [2]
Energy records the largest price increase
The energy component rose 130.31 per cent over the year, compared with 106.24 per cent in August. It also had the largest monthly increase, at 15.45 per cent. Capital goods were at the other end of the annual comparison, rising 20.66 per cent. Their monthly increase was 1.32 per cent.[1]
Intermediate goods increased 32.87 per cent annually and 2.21 per cent monthly. Durable consumer goods rose 28.97 per cent over the year, while non-durable consumer goods increased 29.82 per cent. Their monthly rises were 0.35 per cent and 1.55 per cent respectively. All five main industrial groups recorded increases in both comparisons.[1], [2]
Mining prices rise faster than manufacturing
Mining and quarrying prices rose 44.35 per cent annually and 3.15 per cent from August. Manufacturing prices increased 33.45 per cent over the year and 2.81 per cent over the month.[1], [2]
For goods sold in Turkey’s domestic market, producer prices had increased 27.38 per cent annually and 2.07 per cent monthly in September. The annual export-producer increase exceeded the domestic figure by 6.26 percentage points in Endeks24’s comparison of the two series.[1]
