Turkey Inflation Edges Up in February


Turkey annual inflation accelerated to 7.55 percent in February of 2015 from a 7.24 percent increase in the previous month due to higher food prices. In February of last year, inflation was 7.4 percent.

Year-on-year, food and non-alcoholic beverages recorded the largest increase (+13.7 percent), followed by hotels and restaurants (+12.66 percent) and housing, water, electricity and gas (7.5 percent). Cost of clothing and footwear rose 7.4 percent while prices of furnishings and household equipment advanced 7.37 percent. The only downward contribution came from transports (-1.49 percent), which was not enough to offset the increase.

On a monthly basis, consumer prices rose 0.71 percent, down from a 1.1 increase in January, and below market expectations. The downfall was mainly due to a 6.58 percent fall in clothing and footwear. Food prices accelerated to 2.59 percent and transport cost increased by 1.77 percent. Other upward pressures came from hotels and restaurants (+ 1.06 percent), housing, water, electricity and gas (+0.46 percent) and furnishings and household equipment (+0.23 percent).

Turkey Inflation Edges Up in February


Turkstat l Carolina Cunha l carolina.cunha@tradingeconomics.com
3/3/2015 11:22:04 AM