Foreign Producer Price Index (FPPI) Surges in May: Annual Increase Hits 65.48%

Significant Yearly Growth in Mining and Manufacturing Sectors Drives the FPPI Upward

The Foreign Producer Price Index (FPPI), formerly known as Foreign Producer Price Index (FPPI), experienced a notable rise in May, recording a monthly increase of 0.42% and a substantial annual increase of 65.48%, according to data released by the Turkish Statistical Institute (TUIK).

The FPPI saw a 14.11% increase compared to December of the previous year and a 59.6% rise based on the 12-month averages. The mining and quarrying sector witnessed a significant annual growth of 73.45%, while the manufacturing sector saw a 65.34% increase.

Analyzing the yearly changes in main industry groups, intermediate goods increased by 58.94%, durable consumer goods by 71.72%, non-durable consumer goods by 67.34%, energy by 75.8%, and capital goods by 70.72%.

On a monthly basis, the mining and quarrying sector rose by 2.85%, and the manufacturing sector increased by 0.37%. In terms of the main industry groups, intermediate goods saw a 0.94% rise, durable consumer goods increased by 1.68%, non-durable consumer goods by 0.67%, and capital goods by 0.73%. However, energy recorded a significant monthly decline of 8.25%.

Source: AA / Prepared by Irem Yildiz

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