Turkey: Inflation increases further in January
February 6, 2017
Consumer prices in Turkey increased 2.46% in January compared to the previous month, higher than the 1.64% rise registered in December and overshooting analysts’ expectations of a 1.78% jump. Prices for alcoholic beverages and tobacco increased the most.
Inflation jumped from 8.5% in December to 9.2% in January, the highest reading in a year. The core prices index, which excludes more volatile categories such as unprocessed food and energy, increased 0.92% in December—the latest month for which data is available—from the previous month (November: +0.72% month-on-month), while core inflation increased from 8.1% in November to 9.1% in December.
Author: Dirina Mançellari, Senior Economist