Consumer prices in Turkey increased by 10.13 percent year-on-year in February of 2017, following a 9.22 percent rise in the previous month and beating market expectations of a 9.6 percent gain. It was the highest inflation since April 2012, as cost of food, transport and housing went up at a faster pace.
Year-on-year, prices rose at a faster pace for: Food and non-alcoholic beverages (8.72 percent from 7.77 percent in January); Transportation (17.96 percent from 15.61 percent); Housing and utilities (7.42 percent from 6.54 percent).
Additional upward pressure came from: hotels, cafes and restaurants (8.66 percent from 8.58 percent); furnishing, household equipment, routine maintenance of the house (4.93 percent from 6.16 percent); and clothing and footwear (6.77 percent from 3.66 percent).
On a monthly basis, consumer prices went up 0.81 percent, compared to a 2.46 percent rise a month earlier and above market expectations of a 0.47 percent rise.
3/3/2017 11:47:44 AM