Turkey Inflation Rate Eases to 8% in August


Consumer prices in Turkey rose 8.05 percent year-on-year in August of 2016, slowing from an 8.79 percent increase in July as food inflation eased. On a monthly basis, consumer prices went down 0.29 percent, the biggest drop since June last year.

Year-on-year, prices rose at a slower pace for food and non-alcoholic beverages (6.19 percent compared to 9.69 percent in July); clothing and footwear (7.84 percent compared to 8.26 percent); miscellaneous goods and services (11.84 percent compared to 12.68 percent) and hotels, cafes and restaurants (8.63 percent compared to 9.96 percent). In contrast, inflation accelerated for housing and utilities (6.82 percent compared to 6.69 percent); transportation (6.74 percent compared to 6.13 percent); alcoholic beverages and tobacco (23.03 percent compared to 19.36 percent) and education (9.18 percent compared to 7.89 percent) while was steady for health (10.6 percent). 

On a monthly basis, consumer prices fell 0.29 percent, compared to market expectations of a 0.15 percent decline, mainly driven by a 1.92 percent fall in cost of food and beverages and a 4.69 percent decline in clothing and footwear. In contrast, prices of alcoholic beverages and tobacco recorded the biggest increase (3.44 percent), followed by education (2.61 percent).

Turkey Inflation Rate Eases to 8% in August


Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
9/5/2016 8:39:06 AM