Türkiye's Non-Domestic Producer Price Index (ND-PPI) recorded a significant annual increase of 23.50% in December 2024, the Turkish Statistical Institute announced on Monday.

The index, which tracks price changes in industrial goods produced for export, also showed a monthly rise of 0.91%. On a broader scale, the ND-PPI rose by 41.55% when calculated using the twelve-month moving average.

A closer look at the industrial sectors reveals that prices for manufactured products surged by 23.53% over the year. Within the two main sectors, mining and stone quarrying saw an annual increase of 22.19%, while manufacturing recorded a 23.53% rise.

The main industrial groups also demonstrated varied growth rates. Prices for intermediate goods increased by 21.53%, durable consumer goods rose by 26.23%, and non-durable consumer goods went up by 24.07%. Meanwhile, the energy sector experienced a comparatively modest increase of 8.08%, and capital goods saw the most significant rise at 27.58%.

On a monthly basis, the ND-PPI for manufactured products grew by 0.90%. Mining and stone quarrying showed a 1.0% rise, and manufacturing followed closely with a 0.90% increase. Among the main industrial groups, prices for intermediate goods rose by 0.76%, non-durable consumer goods increased by 1.19%, and capital goods climbed by 1.18%. Durable consumer goods and energy posted more modest monthly changes, with increases of 0.01% and 0.30%, respectively.

These figures highlight the continued upward trend in Türkiye’s industrial production costs, reflecting broader economic dynamics and sector-specific challenges. (ILKHA)