Turkey: Inflation eases in June
July 3, 2014
In June, consumer prices increased 0.31% over the previous month, which was below the 0.40% rise recorded in May and marked the lowest print in seven months. According to the statistical office, the increase primarily resulted from higher prices for education, health as well as for hotels, cafes and restaurants.
Annual inflation moderated from May’s 9.7%, which represented the highest level since April 2012, to 9.2% in June. June’s result overshot the 8.8% that market analysts had expected.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.38% over the previous month in June (May: +1.26% month-on-month). Annual core inflation stabilized at the previous month’s 9.6% in May, which marked the highest reading in over two years.