Turkey’s non-domestic producer price index (ND-PPI) decreased by 0.8pc in December 2020 against the previous month but rose by 37.6pc from the same month a year ago, according to the Turkish Statistical Institute (TUIK).
In December, the 12-month moving average ND-PPI increased by 22.69pc. The ND-PPI is the Turkish producers’ foreign sales price index, which denotes the trends for export prices of Turkish products.
The ND-PPI increased by 38.2pc for mining and quarrying and by 37.5pc for manufacturing in December compared to the same year-ago month. The indices for intermediate goods increased by 38.9pc in December 2020 against the same month in 2019 as durable and non-durable consumer goods increased by 50.2pc and 36.3pc, respectively, and capital goods rose by 37.8pc in the same time frame. Energy was the only industrial group that declined by 11.3pc in December 2020 against the prior-year period.
The highest rates of increase in ND-PPI on an annual basis were in manufactured goods by 57.7pc, basic metals by 45.2pc, electrical equipment by 43.8pc, and in metal ores by 42.9pc.
Indices slip month-on-month
Manufacturing ND-PPI decreased by 0.72pc as mining and quarrying fell by 2.9pc in December 2020 against the previous month. In monthly terms, intermediate goods slipped by 0.4pc, durable consumer goods fell by 1pc, and capital goods decreased by 1.4pc. Energy increased by 1.8pc in December 2020 compared to November.
Most subcategories declined in December 2020 compared to the preceding month, but coke and refined petroleum products rose by 1.8pc and basic metals export prices increased by 0.9pc.