Five out of 10 sectors show an upward trend in product prices
In the purchasing managers’ index of the Istanbul Chamber of Industry (ISO), the upward momentum in input and final product prices in a significant part of the sectors monitored drew attention. In the ISO survey, the rise in final product prices in food and electronics stood out.
Istanbul Chamber of Industry’s (ISO) PMI report for September pointed to a sharp contraction in manufacturing, while sectoral data in the survey also pointed to an upward momentum in price indicators.
According to sectoral data, prices of final products increased in five out of 10 sectors. According to the sectoral breakdown, the sectors that saw price increases in final products were food, clothing and leather products, chemicals, plastics and rubber products, machinery and metal products, and electrical and electronic products.
The increase in input prices was also noteworthy in a significant portion of the sectors.
According to ISO’s assessment, the weakness in the Turkish lira and the rise in raw material prices further increased input costs in September.
The highest rate of increase was recorded in the chemicals, plastics and rubber products sector, while the most significant decline was recorded in basic metals.
In the food sector, both input costs and inflation in final products increased. In this sector, input prices rose to the highest level in the last four months and final product prices to the highest level in the last five months.
In electrical and electronic products, the rise in final product prices accelerated significantly and reached the highest level in the last seven months.
In the textile industry, both input prices and final product prices declined. Basic metal industry and land and marine vehicles were the other sectors where product prices decreased.
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