Foreign Producer Price Index Figures Released

The Turkish Statistical Institute (TÜİK) has published the report on the Foreign Producer Price Index (YD-ÜFE) for October. In October 2024, YD-ÜFE showed an annual increase of 30.70% and a monthly increase of 0.09%.

In October 2024, YD-ÜFE increased by 0.09% compared to the previous month and recorded a rise of 23.45% compared to December 2023. Compared to the same month last year, the index rose by 30.70%, with a 12-month average increase of 47.62%. These figures reflect the general trend in foreign producer prices and highlight changes in costs within the sector.

Notable increases in the industrial sectors were observed. In the mining and quarrying sector, prices increased by 33.52%, while a rise of 30.65% was recorded in the manufacturing sector. These sectoral data indicate an increase in production costs in two significant sub-branches of foreign production. These increases in the industry put cost pressure on producers competing in international markets and affect their pricing strategies.

When examining annual changes in major industrial groups, increases were recorded as follows: 28.23% in intermediate goods, 36.56% in durable consumer goods, 31.09% in non-durable consumer goods, 4.74% in energy, and 38.71% in capital goods.

These figures demonstrate a broad range of price changes within the industrial group. On a monthly basis, there were increases of 0.06% in intermediate goods, 1.08% in durable consumer goods, and 3.59% in the energy sector, while there were decreases of 0.10% in non-durable consumer goods and 0.49% in capital goods. The mentioned values indicate that economic dynamics vary by sector and these dynamics are reflected in industrial groups.