Agricultural Input Price Index Rises by 2.75% Monthly and 32.59% Yearly

Forex - The Agricultural Input Price Index (Agriculture-GFE) recorded an annual increase of 32.59% and a monthly increase of 2.75%. According to the Turkish Statistical Institute (TÜİK), in October 2024, the Agriculture-GFE (2020=100) showed a 2.75% increase compared to the previous month, a 27.92% increase compared to December of the previous year, a 32.59% increase compared to the same month of the previous year, and a 42.03% increase based on twelve-month averages. In major groups, compared to the previous month, there was a 3.04% increase in the index of goods and services used in agriculture and a 1.10% increase in the index of goods and services contributing to agricultural investment. Compared to the same month of the previous year, there was a 31.03% increase in the index of goods and services used in agriculture and a 42.35% increase in the index of goods and services contributing to agricultural investment.

Agriculture-GFE and Change Rates by Major Groups (%), October 2024

Index	Change Rate Compared to Previous Month (%)	Change Rate Compared to Previous December (%)	Change Rate Compared to Same Month of Previous Year (%)	Change Rate Based on Twelve-Month Averages (%)
Agriculture-GFE	619.47	2.75	27.92	32.59
Goods and Services Used in Agriculture	593.99	3.04	26.36	31.03
Goods and Services Contributing to Agricultural Investment	823.01	1.10	37.68	42.35

The subgroup with the highest annual change was "other goods and services," which increased by 64.81%, while the subgroup with the highest monthly change was "animal feed," which increased by 5.32%.