Turkey: Inflation continues to edge up in August
September 3, 2014
In August, consumer prices increased 0.09% over the previous month, which was well below the 0.45% rise recorded in July. The print represented the lowest rate since November 2013 and defied the 0.10% drop that market analysts had expected. According to the statistical office, the lower reading was primarily the result of a decline in prices for clothing and footwear as well as for alcoholic beverages and tobacco. Annual inflation increased from 9.3% in July to 9.5% in August.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.08% in August over the previous month (July: +0.56% month-on-month). Annual core inflation inched down from 10.0% in July to 9.9% in August.