Turkish Inflation Rate Falls from 14-Year High
Turkish consumer price inflation eased to 11.92 percent year-on-year in December 2017 from 14-year high of 12.98 percent in the previous month, as prices rose at a softer pace for food, housing, and transportation.
1/3/2018 10:07:55 AM
Year-on-year, prices went up at a slower pace for: food and non-alcoholic beverages (13.79 percent from 15.78 percent in November); housing and utilities (9.62 percent from 9.81 percent); transportation (18.24 percent from 18.56 percent); furnishing, household equipment, routine maintenance of the house (12.74 percent from 12.85 percent); miscellaneous goods and services (12.77 percent from 13.39 percent); health (11.90 percent from 12.38 percent); alcoholic beverages and tobacco (2.86 percent from 10.41 percent); recreation and culture (8.38 percent from 9.90 percent); and communication (1.41 percent from 1.44 percent).
Meanwhile, prices rose faster for: hotels, cafes and restaurants (11.47 percent from 11.43 percent in November); clothing and footwear (11.48 percent from 11.30 percent); and education (10.48 percent from 10.46 percent).
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to an all-time high of 12.30 percent in December from 12.08 percent in November.
On a monthly basis, consumer prices went up 0.69 percent, easing from a 1.49 percent jump in November and beating market expectations of a 0.5 percent gain. The sharpest increases were recorded for transportation (1.69 percent), food and non-alcoholic beverages (1.52 percent), furnishing, household equipment, routine maintenance of the house (1.18 percent), housing and utilities (0.77 percent), and hotels, cafes and restaurants (0.47 percent).