Turkish Inflation Rate Rises in July

Turkey’s annual inflation rate accelerated to 9.32 percent in July, from 9.16 percent recorded in June as prices of food continued to rise.

The highest annual increase was recorded for prices of hotels, cafes and restaurants (13.74 percent), followed by food and non-alcoholic beverages (12.56 percent), transportation (10.29 percent), clothing and footwear (10.11 percent) and health (9.32 percent).

The core inflation increased to 9.75 percent, hovering around a 7-year high of 9.77 percent seen in May.

On a month-over-month basis, the CPI increased by 0.45 percent, compared to a 0.31 percent rise in the previous month and the same month last year. The highest monthly increase was reported for recreation and culture (2.97 percent), followed by  alcoholic beverages and tobacco (1.99 percent), communications (1.90 percent), hotels, cafes and restaurants (1.05 percent), and transportation (0.71 percent). In contrast, the only monthly decrease was 3.28 percent in clothing and footwear.

Turkish Inflation Rate Rises in July

Turkstat | Isabel Felino | isabel.felino@tradingeconomics.com
8/4/2014 11:03:38 AM