The Agricultural Input Price Index rose by 30.49% annually and 5.89% monthly in January. The index hit its lowest level since June 2023.

The Turkish Statistical Institute (TÜİK) released the Agricultural Input Price Index (Agriculture-GPI) data for January. Accordingly, the index increased by 5.89% compared to the previous month, 30.49% compared to the same month last year, and 39.58% compared to the 12-month average.

As a result, the annual Agriculture-GPI hit its lowest level in the last 19 months since June 2023. In the main groups, there was a 5.95% increase in the index for goods and services used in agriculture compared to the previous month, and a 5.56% increase in the index for goods and services contributing to agricultural investment.

Compared to the same month last year, there was a 29.02% increase in the index for goods and services used in agriculture and a 39.58% increase in the index for goods and services contributing to agricultural investment. THE HIGHEST INCREASE WAS IN SEEDS According to the annual Agriculture-GPI, 7 subgroups showed lower, while 4 subgroups showed higher changes. In January, the subgroups with the lowest annual increase were energy and lubricants with 21.43%, and agricultural chemicals with 21.66%.

The subgroups with the highest annual increase were seeds and planting material with 50.09%, and other goods and services with 49.13%. According to the monthly Agriculture-GPI, 7 subgroups showed lower, while 4 subgroups showed higher changes. In January, the subgroups with the lowest increase compared to the previous month were building maintenance expenses with 1.96% and agricultural chemicals with 2.15%. In contrast, the subgroups with the highest monthly increase were veterinary expenses with 32.87% and other goods and services with 19.79%.