Turkish Inflation Rate Slows to 8.8% in February


Consumer prices in Turkey increased by 8.78 percent year-on-year in February of 2016, easing from a 9.58 percent growth in the previous month while staying below market consensus of 9.35 percent, as cost of food and transportation rose at a slower pace.

Year-on-year, cost of food and non-alcoholic beverages went up by 8.83 percent compared to a 11.69 percent increase in January and transport prices increased by 6.32 percent following a 7.37 percent growth in the previous month. Additional upward pressure came from: housing, water, electricity, gas and other fuels (+7.22 percent); furnishings, household equipment, routine maintenance of the house (+11.04 percent); hotels, cafes and restaurants (+13.12 percent); clothing and footwear (+9.80 percent); alcoholic beverages and tobacco (+12.78 percent); and miscellaneous goods and services (+12 percent).

On a monthly basis, coonsumer prices dropped slightly by 0.02 percent compared to a 1.82 percent growth in January, due to lower prices of food and non-alcoholic beverages (-0.04 percent), clothing and footwear (-6.16 percent), communications (-0.42 percent) and recreation and culture (-0.13 percent). In contrast, prices of housing and utilities rose by 0.36 percent and cost of transportation went up 0.77 percent.

Turkish Inflation Rate Slows to 8.8% in February


Turkstat | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/3/2016 8:39:38 AM