The Turkish consumer price inflation rose slightly to 20.35 percent year-on-year in January 2019 from 20.30 percent in the prior month, and slightly above market expectations of 20.29 percent. Food prices increased faster while both housing and transport inflation eased.
Prices advanced faster: food and non-alcoholic beverages (30.97 percent vs 25.11 percent in December); hotels, cafes and restaurants (19.89 percent vs 19.81 percent); miscellaneous goods and services (29.63 percent vs 28.80 percent), and alcoholic beverages and tobacco (2.63 percent vs 2.39 percent). Meanwhile, prices went up softer for: housing and utilities (17.16 percent vs 23.73 percent); transportation (14.71 percent vs 15.97 percent); furnishing and household equipment (29.07 percent vs 31.36 percent); and clothing and footwear (12.47 percent vs 14.83 percent).
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, declined to 19.02 percent in January from 19.53 percent in the previous month. It was the lowest inflation since August.
On a monthly basis, consumer prices increased 1.06 percent in January, following a 0.40 percent fall in December and compared to market expectations of a 1 percent rise. The sharpest increases were recorded for food and non-alcoholic beverages (6.43 percent), miscellaneous, goods and services (3.62 percent); health (3.56 percent), recreation and culture (3.18 percent), and communication (0.74 percent).
2/4/2019 8:04:14 AM