Turkish Inflation Rate at Near 3-Year Low

Turkey's annual inflation rate dropped to 8.55 percent in October 2019 from 9.26 percent in the previous month. It was the lowest rate since December 2016, mainly due to a slowdown in food and housing inflation.
Turkish Statistical Institute | Chusnul Ch Manan | chusnul@tradingeconomics.com 11/4/2019 10:19:05 AM
Inflation slowed for: food & non-alcoholic beverages (7.85 percent vs 9.52 percent in September); housing, water, electricity, gas & other fuels (9.70 percent vs 10.34 percent); furnishing, household equipment, routine maintenance of the house (6.06 percent vs 8.66 percent); hotels, cafes & restaurants (13.71 percent vs 14.87 percent); clothing & footwear (1.90 percent vs 2.85 percent); and miscellaneous goods and services (13.43 percent vs 14.98 percent).

Meanwhile, transport prices increased 1.36 percent, rebounding from a 0.66 percent fall in the previous month.

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 6.67 percent in October from 7.54 percent in September. That was the lowest rate since August 2013.

On a monthly basis, consumer prices jumped 2 percent, following a 0.99 percent rise in September. The highest monthly price increase was recorded for clothing & footwear (11.70 percent), followed by housing, water, electricity, gas & other fuels (3.55 percent), food and non-alcoholic beverages (1.65 percent), communication (1.43 percent), and transportation (1.17 percent).

Turkish Inflation Rate at Near 3-Year Low