Prices of industrial products as a whole (domestic market and foreign market) in August 2023 decreased by 3.3% compared to the corresponding month last year, according to data from the National Institute of Statistics (INS).

Significant drops are observed in the production of crude oil and natural gas by 39.1%, production of coke chemical products by 15.09%, production of substances and chemical products by 14.39%, metallurgical industry by 14.3%.

Instead, we note price increases in pharmaceutical production by 23%, water distribution, drainage, waste management, decontamination activities by 19.5%, beverage production by 18.4%, car services by 12.3%, clothing production by 10.59 %.

Economists often look to producer prices as a leading indicator of where inflation will be headed in a few months.

This is a good signal for the pockets of all of us, signaling that shelf prices will follow the same trend in the next period, which may force the NBR not to raise the key interest rate in the next period

Industrial production prices are a key indicator for measuring inflation, as well as for determining the GDP deflator (real economic growth is calculated by dividing nominal GDP by the index obtained by this deflator). The lower the IPPI, the higher the GDP in real terms.

We are likely to see significant growth if the package of fiscal measures that the Çolak government has taken responsibility for is published in the Official Gazette and begins to bear fruit. We are talking about raising taxes and introducing new ones. Now he is in the Constitutional Court.