Turkey: Inflation drops further in July
August 3, 2015
In July, consumer prices rose 0.09% over the previous month, which contrasted June’s 0.51% decrease. According to the statistical office, July’s increase came on the back of higher prices for furnishing and household equipment along with hotels, cafes and restaurants. In contrast, lower prices were recorded for clothing and footwear.
Inflation dropped from June’s 7.2% to 6.8% in July, marking the lowest rate since May 2013. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.24% in July (June: +0.34% month-on-month). Core inflation fell from June’s 7.7% to 7.3% in July, which marked the lowest level since January 2014.