The Turkish consumer price inflation eased to 19.67 percent year-on-year in February 2019 from 20.35 percent in the previous month and slightly below market expectations of 19.9 percent. It was the lowest inflation rate since last August.
Prices increased at softer pace for: food and non-alcoholic beverages (29.25 percent vs 30.97 percent in January); housing and utilities (16.56 percent vs 17.16 percent); furnishing and household equipment (27.59 percent vs 29.07 percent); clothing and footwear (11.62 percent vs 12.47 percent); hotels, cafes and restaurants (19.79 percent vs 19.89 percent); miscellaneous goods and services (28.08 percent vs 29.63 percent). Meanwhile, inflation accelerated for both transportation (15.18 percent vs 14.71 percent) and alcoholic beverages and tobacco (2.71 percent vs 2.63 percent).
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, declined to a six-month low of 18.12 percent in February from 19.02 percent in the previous month.
On a monthly basis, consumer prices went up 0.16 percent in February, following a 1.06 percent rise in January and compared to market expectations of 0.4 percent. The sharpest increases were recorded for health (2.48 percent), education (1.64 percent), food and non-alcoholic beverages (0.90 percent), cafes and restaurants (0.87 percent) and transportation (0.71 percent). By contrast, prices fell for clothing and footwear (-4.81 percent), miscellaneous goods and services (-0.39 percent), recreation and culture (-0.37 percent) and communication (-0.34 percent).
Turkish Statistical Institute | Chusnul Ch Manan | chusnul@tradingeconomics.com
3/4/2019 2:47:16 PM