Turkey Inflation Rate Highest Since May 2014


Consumer prices in Turkey increased by 9.58 percent year-on-year in January of 2016, accelerating from 8.81 percent in the previous month and beating market consensus. It was the highest value since May of 2014, as cost of food, housing and transportation rose at a faster pace.

Year-on-year, cost of food and non-alcoholic beverages went up by 11.69 percent compared to a 10.87 percent increase in December; prices of housing, water, electricity, gas and other fuels grew by 7.33 percent, accelerating from a 6.71 percent rise in the previous month; and transport prices increased by 7.37 percent following a 6.40 percent growth. Additional upward pressure came from: hotels, cafes and restaurants (+13.43 percent), miscellaneous goods and services (+11.21 percent), alcoholic beverages and tobacco (+11.17 percent), furnishings, household equipment, routine maintenance of the house (+10.75 percent); and clothing and footwear (+9.31 percent).

On a monthly basis, coonsumer prices jumped 1.82 percent compared to a 0.21 percent growth in December, boosted by higher cost of food and non-alcoholic beverages (+4.28 percent), alcoholic beverages and tobacco (+9.60 percent), miscellaneous goods and services (+2.71 percent), recreation and culture (+2.09 percent) and health (+2.42 percent). In contrast, prices of clothing and footwear dropped sharply by 6.71 percent.

Turkey Inflation Rate Highest Since May 2014


Turkstat | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/3/2016 8:38:19 AM