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Turkey: Agri inflation hit new record in April

According to official data, released today, Turkey’s producer price index for agricultural products (Agriculture-PPI) increased by 17.76% in April from the month before. Year-over-year, the index surged 118.53%, said Turkish Statistical Institute TurkStat.

The subgroups with a low annual increase are citrus fruits with 21.82%. On the other hand, the subgroups with the highest annual increase are fibrous plants with 295.72%, vegetables and melon-watermelons with 248.33%, and roots, tubers and cereals (excluding rice), legumes and oil seeds with 135.01%.

Marcelo Carvalho, head of global emerging markets research at BNP Paribas, has stated that, With the war in Ukraine not only disrupting food but also fertilizer supplies, food inflation could be longer-lasting.



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