The Agricultural Input Price Index (Agricultural-IPI) in Türkiye recorded a significant increase in October 2024, according to data released by the Turkish Statistical Institute.

The index rose by 32.59% compared to the same month in the previous year and by 2.75% compared to the previous month. When measured against December 2023, the increase stood at 27.92%, while the twelve-month moving average showed a growth of 42.03%.

A closer look at the data reveals distinct trends within the sector. Goods and services currently consumed in agriculture experienced a monthly increase of 3.04%, while those contributing to agricultural investment rose by 1.10%. On an annual basis, the cost of goods and services currently consumed in agriculture increased by 31.03%, and those contributing to agricultural investment surged by 42.35%.

Among the subgroups, "Other goods and services" demonstrated the highest annual rate of change, with a dramatic increase of 64.81%. On a monthly scale, "Animal feedingstuffs" led the rise with a 5.32% increase.

The data underscores the growing cost pressures within Türkiye’s agricultural sector, posing challenges for production and investment in an already volatile economic environment. (ILKHA)