Turkey Inflation Rate Highest Since 2004


The annual inflation rate in Turkey increased to 15.85 percent in July of 2018 from 15.35 percent in June. It was the highest inflation rate since January of 2004, mainly boosted by higher prices of food and non-alcoholic beverages and housing and utilities.

Year-on-year, cost rose faster for food and non-alcoholic beverages (19.40 percent compared to 18.89 in June); housing and utilities (12.78 percent compared to 12.04 percent); furnishing, household equipment, routine maintenance of the house (20.32 percent compared to 18.91 percent); hotels, cafes and restaurants (13.86 percent compared to 13.30 percent); clothing and footwear (11.85 percent compared to 11.34 percent); alcoholic beverages and tobacco (1.43 percent compared to 1.06 percent); miscellaneous goods and services (17.24 percent compared to 16.79 percent); communication (4.69 percent compared to 4.94 percent); recreation and culture (9.67 percent compared to 9.39 percent); education (10.81 percent compared to 10.79 percent) and health (11.78 percent compared to 10.83 percent).

On the other hand, cost of transportation eased to 24.21 percent in July from 24.26 percent in June.  

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, edged up to an all-time high of 15.01 percent in July from 14.60 percent in the prior month.

On a monthly basis, consumer prices advanced 0.55 percent in July, slowing from a 2.61 percent in the previous month and below market expectations of a 0.9 percent gain. Cost fell for food and non-alcoholic beverages (-0.28 percent compared to 5.98 percent) and communication (-0.11 percent compared to 4.76 percent) and prices went up at a softer pace for transportation (1.09 percent compared to 2.66 percent); furnishing and household equipment (1.82 percent compared to 2.24 percent) and recreation and culture (1.62 percent compared to 2.16 percent).

Turkey Inflation Rate Highest Since 2004


Turkish Statistical Institute | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/3/2018 7:20:20 AM