Turkish Inflation Rate Rises to 4-Month High


Turkey's consumer prices increased by 7.54 percent year-on-year in June 2016 compared with a 6.58 percent growth in the previous month. It was the highest reading since February, as cost of food and transportation advanced at a faster pace.

Year-on-year, prices of food and non-alcoholic beverages went up 6.63 percent compared to a 2.47 percent increase in May; and cost of transportation gained 6.45 percent, following a 5.72 percent increase in the previous month. Additional upward pressure came from: housing and utilities (+6.68 percent); furnishings, household equipment, routine maintenance of the house (+9.75 percent); hotels, cafes and restaurants (+9.95 percent); clothing and footwear (+7.31 percent); alcoholic beverages and tobacco (+12.80 percent); and miscellaneous goods and services (+11.33 percent).

On a monthly basis, consumer prices went up 0.47 percent, slowing from a 0.58 percent rise in May but beating market expectations of 0.1 percent gain. Prices of food and non-alcoholic beverages (+1.16 percent), transportation (+0.67 percent) and hotels, cafes and restaurants (+0.49 percent) increased sharply; while cost of clothing and footwear (-1.33 percent) fell.

Turkish Inflation Rate Rises to 4-Month High


Turkstat | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/4/2016 8:26:21 AM