Turkish Inflation Rate Highest Since 2008

Consumer prices in Turkey jumped 11.87 percent year-on-year in April of 2017, following a 11.29 percent rise in the prior month. It is the highest inflation rate since October of 2008, as cost of food and transport increased at a faster pace.

Year-on-year, prices advanced at a faster pace for: food and non-alcoholic beverages (15.63 percent vs 12.53 percent in March) and transport (17.94 percent vs 17.69 percent).

Additional upward pressure came from: housing and utilities (7.53 percent vs 7.71 percent), furniture and household equipment (5.58 percent vs 5.33 percent), hotels, cafes and restaurants (9.27 percent vs 9.16 percent), clothing and footwear (5.17 percent vs 8.52 percent), alcoholic beverages and tobacco (21.65 percent vs 21.71 percent), miscellaneous goods and services (13.68 percent vs 12.51 percent), communication (4.15 percent vs 4.47 percent), recreation and culture (9.22 percent vs 9.30 percent), health (13.32 percent vs 13.28 percent) and education (9.64 percent vs 9.84 percent).

On a monthly basis, consumer prices went up 1.31 percent, compared to a 1.02 percent rise in March and in line with market expectations of 1.30 percent.

 Turkish Inflation Rate Highest Since 2008

Turkish Statistical Institute l Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/3/2017 7:41:41 AM