Turkish Inflation Rate at 6-Month Low
Consumer prices in Turkey increased 10.35 percent year-on-year in January 2018, easing from a 11.92 percent gain in the previous month. It was the lowest inflation rate since July, as prices rose at a slower pace for food and transportation.
2/5/2018 2:36:15 PM
Year-on-year, prices went up at a softer pace for: food and non-alcoholic beverages (8.76 percent from 13.79 percent in December); transportation (16.02 percent from 18.24 percent); miscellaneous goods and services (11.38 percent from 12.77 percent); health (9.51 percent from 11.90 percent); alcoholic beverages and tobacco (0.89 percent from 2.86 percent); communication (0.29 percent from 1.41 percent); hotels, cafes and restaurants (11.42 percent from 11.47 percent); and recreation and culture (7.19 percent from 8.38 percent).
Meanwhile, inflation picked up for: housing and utilities (10.18 percent from 9.62 percent); furnishing, household equipment, routine maintenance of the house (13.49 percent from 12.74 percent); clothing and footwear (12.63 percent from 11.48 percent); and education (10.68 percent from 10.48 percent).
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, fell to 12.18 percent in January 2018 from an all-time high of 12.30 percent in December.
On a monthly basis, consumer prices went up 1.02 percent in January, accelerating from a 0.69 percent rise in December and beating market expectations of a 0.5 percent gain. The sharpest price increase was recorded for miscellaneous goods and services (2.96 percent), followed by furnishing and household equipment (2.44 percent), health (2.42 percent), housing (2.34 percent) and food and non-alcoholic beverages (1.67 percent).