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AGRICULTURAL INPUT PRICES ROSE 8 PERCENT IN JULY!

The agricultural input price index increased by 7.9 percent in July from the previous month, the Turkish Statistical Institute (TÜİK) said on Aug. 22.

Fertilizer

On the back of the July data, the annual increase in the cost of inputs used in the agriculture industry accelerated from 123.7 percent in June to 135 percent last month.

The sub-index for the cost of goods and services advanced 8.3 percent month-month, for an annual rise of 145 percent, while the index for the goods and services contributing to agricultural investments was up 4.57 percent monthly and increased by 72.3 percent annually.

The cost of fertilizers soared nearly 234 percent in July from a year ago, while the annual increase was 228 percent in energy and lubricants.

The price of animal feed grew some 146 percent year-on-year. Veterinary expenses and the cost of seed and planting stocks advanced 32 percent and 46 percent from a year ago, respectively.

The cost of machinery maintenance rose by 77.3 percent and pesticide prices rocketed by nearly 106 percent.

Food and non-alcoholic beverage prices increased by 3.15 percent in July from June, according to the latest inflation data from TÜİK. Prices of those items rose by 96.7 percent in July from the same month of 2021.

Unprocessed food prices were up 2.6 percent monthly and 91 percent annually, with fruit and vegetable prices advancing 4.95 percent month-on-month and 77.25 percent year-on-year.

Processed food prices increased by 3.61 percent from June and rose by 98 percent compared to July 2021.

Last month, the headline consumer price index rose by 2.37 percent, bringing the annual inflation rate from 78.6 percent in June to 79.6 percent.

www.hurriyetdailynews.com

About İsmail Uğural

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