Agricultural input price index up 103 percent in 2022

SHAFAQNA TURKEY. Accordingly, in December 2022, the index rose by 0.72 percent from the previous month, by 103.14 percent from December of the previous year, and by 116.26 percent on a 12-month average.

Compared with the previous month, the index of goods and services used in agriculture increased by 0.33 percent, and the index of goods and services that promote investment in agriculture increased by 3.64 percent in major groups. Compared to the same month of the previous year, the index of goods and services that promote investment in agriculture increased by 94.35 percent, while the index of goods and services used in agriculture increased by 104.42 percent.

Subgroups

According to the annual Agri-GFE, 7 subgroups showed lower variability and 4 subgroups showed higher variability. The subgroups with low annual growth were veterinary expenses with 33.98% and machine maintenance expenses with 42.63% respectively. On the other hand, the subgroups with the highest annual increase were recorded as expenditures on building maintenance (120.6%) and animal feed (117.81%).

According to the monthly Agri-GFE, 3 subgroups showed lower changes and 8 subgroups showed higher changes. The subgroups with the largest monthly decline were represented by energy carriers and oils with 8.19%, fertilizers and soil conditioners with 1.87% respectively. On the other hand, the subgroups with the highest monthly gains were represented by materials with 4.49% and pet food with 3.41%, respectively.