Agricultural input inflation has been rising for 50 months in a row

Agricultural

Agricultural input price index (Agri-GPI) increased by 38.82 percent annually and 1.44 percent monthly. Agriculture-GPI has been rising on a monthly basis since September 2019.

Agriculture-PPI increased by 1.44 percent on a monthly basis and 38.82 percent on an annual basis in November.

The index increased by 37.83 percent compared to December of the previous year and by 46.96 percent compared to the twelve-month averages.

Thus, agricultural input inflation has been rising on a monthly basis for 50 months since September 2019.

Among the main groups, the index of goods and services used in agriculture and the index of goods and services contributing to agricultural investment increased by 1.39 percent and 1.70 percent, respectively, compared to the previous month. Compared to the same month of the previous year, the index of goods and services used in agriculture increased by 34.32 percent and the index of goods and services contributing to agricultural investment increased by 72.48 percent.

According to the monthly Agriculture-GPI, 2 subgroups showed a lower change and 9 subgroups showed a higher change.

The subgroups that decreased compared to the previous month were fertilizers and soil improvers with 2.15 percent and energy and oils with 1.80 percent, respectively. On the other hand, the subgroups with high monthly increases were veterinary expenses with 10.84 percent and machinery maintenance expenses with 3.70 percent, respectively.

Compared to the annual Agriculture-GPI, 4 subgroups showed lower and 7 subgroups showed higher changes.

Fertilizers and soil improvers with 8.44 percent and animal feed with 25.03 percent were the subgroups where the increase was low compared to the same month of the previous year. The subgroups with high annual increases were veterinary expenditures with 144.54 percent and other goods and services with 83.90 percent, respectively.

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