Turkey’s Inflation Rate Decelerates to 7.71% in October

In October, Turkish inflation rate slowed for the third consecutive month to 7.71 percent, down from 7.88 percent in September and 7.8 percent a year ago. The slowdown is mainly due to lower housing cost.

The highest annual increase was 14.30 percent in alcoholic beverages and tobacco. Cost of food and non-alcoholic beverages increased 11.13 percent; prices of education went up 10.14 percent; hotels, cafes and restaurants 9.42 percent and clothing and footwear 9.12 percent.

In October 2013 within average prices of 437 items in the index, average prices of 61 items remained unchanged while average prices of 307 items increased and average prices of 69 items decreased.

Compared to the previous month, prices rose by 1.8 percent, the highest rate in twelve months.

In comparison with December of the previous year, prices increased 6.9 percent, and on a twelve months moving average basis, inflation rate stood at 7.32 percent.

Turkey’s Inflation Rate Decelerates to 7.71% in October

Turkstat | Krisztina Györffy | krisztina@tradingeconomics.com
11/4/2013 9:28:50 AM