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.
