Macro Indicators

9/3/2021

The Annual Inflation Rate Reached 19.25 Percent in August

The highest annual increase of 29% occurred in the food and non-alcoholic beverages group with a monthly increase of 3.18%...

The DPPI increased by 45.52% on an annual basis – Annual increases DPPI in the manufacturing sector are recorded as 45.37%, as 48.39% in electricity and gas production and distribution and as 59.39% in energy…

Turkish Statistical Institute (TÜİK) has released the Consumer Price Index (CPI) and the Domestic Producer Price Index (DPPI) data for the month of August 2021.

According to data provided by TÜİK, CPI displayed an increase of 1.12 % in August compared to the previous month, an increase of 11.65 % compared to December last year, an increase of 19.25 % in comparison with the same month of the previous year and an increase of 15.78 % according to the 12-month averages. The inflation rate thus having increased over expectations led by food prices also exceeded the policy rate with 19.25 percent.

Groups with high increase rates compared to the same month last year are respectively listed as food and non-alcoholic beverages with 29%, household goods with 22.91% and transportation with 21.76%. The lowest increase of 1.79% was recorded in the alcoholic drinks and tobacco group. Other main groups that displayed low increase rates compared to the same month last year are respectively listed as communication with 4.79%, wearing apparel and shoes with 10.75% and education with 10.75%.

On the other hand, groups that displayed the highest monthly increases in August 2021 are respectively listed as alcoholic drinks and tobacco with 3.18%, restaurants and hotels with 2.27% and household goods with 1.38%. Main groups that displayed monthly decrease rates were wearing apparel and shoes with 3.08% and transportation with 0.77%. Other main expenditure groups that displayed the lowest rates of increase in August are listed as alcoholic drinks and tobacco with 0.18%, healthcare services with 0.31% and education with 0.58%.

DPPI increased by 45.52% on an annual basis

The Domestic Producer Price Index (DPPI) displayed an increase of 2.77% in August compared to the previous month, an increase of 28.51 % compared to December last year, an increase of 45.52 % in comparison with the same month of the previous year and an increase of 31.34 % according to the 12-month averages.

The annual changes in four sectors of the industry in terms of increases realized as 31.81% in mining and quarry operations, as 45.37% in the manufacturing sector, as 48.39% in electricity and gas production and distribution and as 28.61% in water supply. Annual changes in main industrial groups in terms of increases realized as 54.71% in intermediate goods, as 29.12% in consumer durables, as 31.49% in consumer nondurables, as 59.39% in energy and as 27.48% in capital goods.

Basis metals with 100.27%, coke and oil refinery products with 92.19%, crude oil and natural gas with 82.89% were sectors of which indices displayed the highest increases on an annual basis. Lowest annual rates of increases were displayed by wearing apparel with 10.77%, leather and related products with 12.38% and other manufactured f-goods with 12.73%.

The highest rate of increase of 19.5% in the DPPI on a monthly basis was recorded in electricity and gas production and distribution

The monthly changes in four sectors of the industry in terms of increases realized as 2.72% in mining and quarry operations, as 1.24% in the manufacturing sector, as 19.53% in electricity and gas production and distribution and as 0.90% in water supply. Monthly changes in main industrial groups in terms of increases realized as 2.12% in intermediate goods, as 1.07% in consumer durables, as 0.94% in consumer nondurables, as 9.77% in energy and as 0.45% in capital goods.

Monthly decreases were recorded as 3.11% in coke and oil refinery products, as 1.05% in other manufactured goods and as 0.14% in the sub-sector of basic pharmaceutical products and patent medicines. In return, production and distribution of electricity, gas, steam and air conditioning systems with 19.53%, wood and cork products (except furniture) with 6.61% and metal ore with 5.54% were listed as sub-sectors with highest increase rates.