Food Inflation Exceeds 37% Annually During Harvest Season
· Tarım Dünyası
In July, the peak month for agricultural production and harvest, food inflation reached 37.53% year-on-year, with notable price increases in seasonal vegetables.
July Food Inflation Figures
According to July data shared by the Turkish Statistical Institute (TurkStat), the Consumer Price Index increased by 1.78% monthly, reaching 31.75% on an annual basis. During the period of strongest agricultural production and harvest, food inflation recorded a monthly increase of 1.61%, peaking at 37.53% year-on-year. The highest monthly increase was observed in the onion, garlic, mushroom, and olive group, at 25.87%. The annual increase in this group reaching 104.57% indicates issues in the stock and marketing chain.
Unexpected Price Increases in Seasonal Products
According to TurkStat data, seasonal vegetables, including field products like tomatoes, peppers, cucumbers, and zucchini, which are expected to be abundant in the summer, increased by 10.45% monthly. The rise in food inflation during this period, which normally shows negative trends in July and August of previous years, highlights disruptions in the supply chain. On the other hand, due to the increase in raw tea purchase prices, energy, and labor costs, tea prices exhibited a monthly increase of 9.96% and an annual increase of 47.05%.
Fruit Market Sees Decline with Increased Supply
In the fresh fruit group, which reached record price levels due to agricultural frosts in the previous year, a significant easing was recorded with the intensification of the harvest. According to TurkStat data, fresh fruits experienced a monthly price decrease of 20.44%, becoming the most reduced item of the month. Citrus fruits saw a decrease of 12.97%, while dates, figs, and tropical fruits decreased by 11.76%. Despite the expanded supply in the market, the annual price increase in fresh fruits remained at 52.25%.
Declines in Egg and Vegetable Prices
Eggs, an animal product heavily discussed in the market recently, saw a retreat both monthly and annually. According to TurkStat calculations, egg prices fell by 10.99% monthly and decreased by 2.26% on an annual basis. Similarly, green leafy vegetable prices decreased by 10.29% monthly, with the annual price change for this product group remaining limited at 2.33%. The fact that general food inflation remained at 37.53% even in the summer months indicates continued pressure in the markets.