Turkish Inflation Rate at 6-Month Low of 7.0% in November
Consumer prices in Turkey rose 7.0 percent year-on-year in November of 2016, following a 7.16 percent rise in October. It was the lowest reading since May, as cost of food and non-alcoholic beverages increased at a slower pace. On a monthly basis, consumer prices rose 0.52 percent and below market expectations of 0.8 percent gain.
12/5/2016 1:44:02 PM
Year-on-year, prices rose at a slower pace for food and non-alcoholic beverages (+3.55 percent compared to +5.20 percent in October); clothing and footwear (+4.59 percent from +60.7 percent); health (+9.16 percent from +9.35 percent) and education (+9.50 percent compared to +9.58 percent). Price increased at a faster pace for: housing and utilities (+5.87 percent from +5.50 percent); miscellaneous goods and services (+10.92 percent compared to +9.34 percent), transportation (+9.57 percent from+8.19 percent); hotels, cafes and restaurants (+8.50 percent compared to +8.34 percent).
On a monthly basis, consumer prices went up 0.52 percent, and below market expectations of a 0.8 percent increase, mainly driven by a 3.89 percent gain in cost of clothing and footwear and 0.49 percent rise in transportation.