Input prices in agriculture increased by 135 percent in one year

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Agricultural input price index increased by 134.76 percent on an annual basis and by 2.68 percent on a monthly basis in October.

Turkish Statistical Institute announced the Agricultural Input Price Index (Agriculture-GFE) data for October. Accordingly, the index increased by 2.68 percent on a monthly basis in October and by 134.76 percent compared to the same month of the previous year. The index increased by 97 percent compared to December last year and increased by 105.81 percent compared to the 12-month averages. In the main groups, compared to the previous month, there was an increase of 2.34 percent in the index of goods and services used in agriculture, and an increase of 5.43 percent in the index of goods and services that contribute to agricultural investment. Compared to the same month of the previous year, an increase of 100.96 percent in the index of goods and services contributing to agricultural investment and 140.04 percent in the index of goods and services used in agriculture was recorded. THE PRICE OF ENERGY AND OILS TRIPLED According to the annual Agri-GFE, 7 subgroups showed lower variation and 4 subgroups showed higher variation. The subgroups with low annual increase were veterinary expenditures with 38.42 percent and other goods and services with 63.76 percent. The subgroups with the highest annual increase were determined as energy and oils with 196.89%, fertilizer and soil improvers with 192.52 percent. According to the Monthly Agriculture-GFE, a lower change was observed in 4 subgroups and a higher change in 7 subgroups. The subgroups with low monthly increase were 0.39 percent for other goods and services and 0.67 percent for machinery maintenance costs. The subgroups with the highest monthly increase were determined as materials with 6.79 percent, energy and oils with 4.11 percent.



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