Turkiye's domestic producer price index rises in May 2024

04 Jun '24

2 min read

Turkiye's domestic producer price index rises in May 2024

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Turkiye's domestic producer price index (D-PPI) rose by 57.68 per cent annually, with a monthly increase of 1.96 per cent and a twelve-month average increase of 47.24 per cent, according to Turkstat.
The textiles sector saw a 55.56 per cent YoY rise, while manufacturing increased by 60.31 per cent YoY.
Main industrial groups also saw substantial increases.

Turkiye’s domestic producer price index (D-PPI) rose by 57.68 per cent on an annual basis, marking a substantial inflationary trend in the producer prices, according to the Turkish Statistical Institute (Turkstat). On a monthly basis, the D-PPI increased by 1.96 per cent, and the twelve-month moving averages basis showed a 47.24 per cent increase.

In the textiles sector, the D-PPI witnessed a notable increase of 55.56 per cent year-on-year (YoY). However, the monthly increase was relatively modest at 0.52 per cent. The manufacturing sector saw a significant rise in its D-PPI, with a 60.31 per cent increase YoY. Monthly, the D-PPI for manufactured products grew by 1.44 per cent, as per Turkstat.

The indices for the main industrial groups displayed varied but substantial increases. The D-PPI for intermediate goods surged by 55.48 per cent YoY and by 1.44 per cent monthly. There was a 64.91 per cent increase YoY in the D-PPI for durable consumer goods, with a monthly increase of 2 per cent. The D-PPI for non-durable consumer goods rose by 66.12 per cent YoY and by 2.43 per cent monthly. Energy prices saw a 43.74 per cent increase YoY in the D-PPI, with a notable monthly rise of 3.32 per cent.

Fibre2Fashion News Desk (DP)

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