Turkish consumer prices increased by 10.9 percent year-on-year in June 2017, easing from an 11.72 percent gain in the previous month and below market expectations of 11.3 percent. It was the lowest inflation rate since February, as cost of food and transport rose at a slower pace.
Year-on-year, prices went up at a slower pace for: Food and non-alcoholic beverages (14.34 percent from 16.91 percent in May); transport (14.07 percent from 15.81 percent); housing and utilities (7.39 percent from 7.56 percent); and communication (3.07 percent from 3.72 percent).
On the other hand, prices grew further for: Hotels, cafes and restaurants (10.26 percent from 9.68 percent in May); furnishing, household equipment, routine maintenance of the house (6.76 percent from 6.70 percent); clothing and footwear (3.24 percent from 3.15 percent); alcoholic beverages and tobacco (21.70 percent from 21.69 percent); and miscellaneous goods and services (11.84 percent from 11.60 percent).
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, declined to 9.20 percent from 9.38 percent in May.
On a monthly basis, consumer prices fell 0.27 percent, the first drop in ten months, mainly due to lower cost of clothing and footwear (-1.25 percent), food and non-alcoholic beverages (-1.06 percent) and transportation (-0.84 percent).
7/3/2017 11:19:50 AM