BAKU, Azerbaijan, September 14. Türkiye’s
producer price growth in August 2026 was estimated to have exceeded
consumer price inflation during the month.
The estimate is derived from TURKSTAT’s report on real
investment returns, cross-referenced with the agency’s separately
published Consumer Price Index (CPI) data. The calculations suggest
that domestic producer prices increased by approximately 2.55-2.6%
month-on-month in August, compared with officially reported CPI
inflation of 1.84%.
“Gold (ingot) yielded the highest monthly real profit rate,”
TURKSTAT said in the report, noting that the same financial
instruments showed different real return figures depending on
whether returns were adjusted using the domestic producer price
index (D-PPI) or CPI. For example, gold’s monthly real return was
7.17% based on D-PPI and 7.93% based on CPI, while deposit interest
generated 0.33% by D-PPI and 1.05% by CPI.
Since each instrument’s nominal return in lira terms remains
unchanged regardless of the inflation measure applied, Trend‘s calculations use the
difference between the two real-return figures to estimate the
implied monthly D-PPI inflation rate. Using gold, deposit interest,
the U.S. dollar and the euro as four separate reference points, and
TÜİK’s officially reported CPI monthly inflation rate of 1.84% for
August, the calculations indicate an implied D-PPI increase of
approximately 2.55-2.6% during the month.
Trend’s
calculations indicate that the estimated D-PPI rate was around
0.7-0.8 percentage points above CPI inflation for August.
The calculations also show that, if a similar difference between
producer and consumer prices continued over a full year, the
implied annual D-PPI rate would be approximately 9-10 percentage
points above Türkiye’s annual CPI inflation rate of 31.51% recorded
in August. However, a single month’s comparison does not
necessarily represent a longer-term trend.
For reference, TÜİK (TURKSTAT) publishes official Domestic
Producer Price Index figures separately from CPI data. The
calculation above represents an independent Trend estimate based on
TÜİK’s investment returns report and should not be considered an
official D-PPI figure.
