Turkish Inflation Rate Rises to 4-Month High in September
Consumer prices in Turkey increased 11.20 percent year-on-year in September of 2017, accelerating from a 10.68 percent rise in August. It was the highest inflation rate since May, as cost went up at a faster pace for food and housing.
Year-on-year, prices went up at a faster pace for: Food and non-alcoholic beverages (12.50 percent from 11.97 percent in August); housing and utilities (8.13 percent from 7.76 percent); hotels; cafes and restaurants (11.45 percent from 11.07 percent); clothing and footwear (10.35 percent from 5.65 percent); furnishing, household equipment, routine maintenance of the house (9.09 percent from 8.73 percent); education (10.41 percent from 10.30 percent); miscellaneous goods and services (12.06 percent from 10.89 percent); communication (1.78 percent from 1.77 percent); health (11.90 percent from 11.66 percent), and recreation and culture (11.85 percent from 11.19 percent).
On the other hand, prices rose less for transportation (16.10 percent from 17.38 percent), while inflation was steady for alcoholic beverages and tobacco (at 10.40 percent).
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, increased to 10.89 percent in September, its highest level since February 2004, from 10.16 percent in August.
On a monthly basis, consumer prices went up 0.65 percent in September, following a 0.52 percent rise in August and missing market expectations of 0.76 percent. It was the highest inflation rate since June. The highest increases were recorded for cost of education (2.08 percent); transportation (1.58 percent); miscellaneous goods and services (1.34 percent), hotels, cafes, and restaurant (1.02 prercent), and clothing and footwear (0.80 percent). By contrast, food prices fell 0.23 percent.
Turkish Statistical Institute l Chusnul Ch Manan| chusnul@tradingeconomics.com
10/3/2017 8:56:19 AM