Consumer prices in Turkey increased 8.53 percent year-on-year in December of 2016, following a 7 percent rise in the previous month while market expected a 7.6 percent gain. It was the highest inflation since July, as cost of food and non-alcoholic beverages, housing, utilities and transportation increased at a faster pace.
Year-on-year, prices rose at a faster pace for food and non-alcoholic beverages (5.65 percent from +3.55 percent in the prior month), housing & utilities (+6.42 percent from +5.87 percent), health (+9.73 percent from +9.50 percent), transportation (+12.36 percent from +9.57 percent), hotels, cafe & restaurants (+8.62 percent from 8.50 percent) and miscellaneous goods & services (+11.08 percent from +10.92 percent). Cost went up less than in the prior month for clothing (+3.98 percent from +4.59 percent).
On a monthly basis, consumer prices went up 1.64 percent, compared to a 0.52 percent rise in a month earlier and above market expectations of 0.93 percent rise.
1/3/2017 10:12:21 AM