Turkish Inflation Rate Eases to 15-Month Low


Turkey's annual inflation rate fell to 15.01 percent in August of 2019 from 16.65 percent in the previous month and below market expectations of 15.51 percent. It was the lowest rate since May 2018.

Year-on-year, prices rose at a softer pace for food & non-alcoholic beverages (17.22 percent vs 18.21 percent in July); housing & utilities (14.02 percent vs 16.05 percent); transportation (6.72 percent vs 13.67 percent); furniture & household equipment (20.13 percent vs 25.41 percent); hotels, cafes & restaurants (18.52 percent vs 19.85 percent); miscellaneous goods & services (20.98 percent vs 26.93 percent); communication (3.57 percent vs 6.29 percent); recreation & culture (15.07 percent vs 17.47 percent) and health (17.47 percent vs 17.93 percent) . On the other hand, cost advanced faster for clothing & footwear (4.70 percent vs 4.18 percent); alcoholic beverages & tobacco (41.42 percent vs 19.23 percent) and education (17.59 percent vs 13.68 percent). 

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 13.60 percent in August from 16.20 percent in the July.

On a monthly basis, consumer prices went up 0.86 percent, slowing from a 1.36 percent gain in July and below market expectations of 1.3 percent. Prices declined for food & non-alcoholic beverages (-0.77 percent); transport (-1.94 percent) and clothing & footwear (-1.10 percent). Meanwhile, increases were recorded for housing & utilities (2.04 percent); furniture & household equipment (0.16 percent) and hotels, cafes & restaurants (0.75 percent).   

Turkish Inflation Rate Eases to 15-Month Low


Turkish Statistical Institute | Rafael Gonzalez | rafael.gonzalez@tradingeconomics.com
9/3/2019 8:59:16 AM