Turkey Inflation Rate Falls to 6-Month Low of 9.79%

Consumer prices in Turkey increased 9.79 percent year-on-year in July of 2017, below a 10.9 percent rise in June and market expectations of 9.9 percent. It is the lowest inflation rate since January amid a slowdown in food cost.

Year-on-year, prices rose at a slower pace for food and non-alcoholic beverages (10.07 percent compared to 14.34 percent in June); alcoholic beverages and tobacco (14.14 percent compared to 21.7 percent); miscellaneous goods and services (10.91 percent compared to 11.84 percent) and communication (1.8 percent compared to 3.07 percent). 

On the other hand, prices rose more for transportation (15.24 percent compared to 14.07 percent); housing and utilities (7.5 percent compared to 7.39 percent); hotels, cafes and restaurants (10.84 percent compared to 10.26 percent) and clothing and footwear (3.92 percent compared to 3.24 percent).

On a monthly basis, consumer prices went up 0.15 percent, following a 0.27 percent drop in June and in line with market expectations. The highest increases were recorded for cost of recreation and culture (1.36 percent), transportation (1.13 percent), education (1.05 percent) and furnishing and household equipment (0.63 percent). Food prices fell 0.71 percent. 

Turkey Inflation Rate Falls to 6-Month Low of 9.79%

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
8/3/2017 7:32:22 AM