Turkey: Inflation inches down in October
November 3, 2016
In October, consumer prices increased 1.44% from the previous month. The print was up from the 0.18% increase in September and marked the highest reading in nine months. October’s increase reflected higher prices for clothing and footwear, according to the Statistical Office.
Inflation inched down from 7.3% in September to 7.2% in October, hitting a five-month low. The print came in slightly below the 7.4% that market analysts had expected.
The core prices index, which excludes more volatile categories such as unprocessed food and energy, increased 1.28% in October from the previous month (September: +0.14% month-on-month). Core inflation dropped from 8.7% in September to 8.1% in October.
Author: Dirina Mançellari, Senior Economist