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.
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 Statistical Institute | Chusnul Ch Manan | chusnul@tradingeconomics.com
11/4/2019 10:19:05 AM