Turkey: Inflation moderates in October
November 3, 2015
In October, consumer prices rose 1.55% over the previous month, which followed September’s 0.89% increase and marked a six-month high. The rise was in line with market analysts’ predictions. According to the statistical office, October’s increase came on the back of higher prices for clothing and footwear as well as for transportation. While the sharp rise in clothing and footwear is expected to be temporary, continued exchange-rate pass through is expected to keep inflation at high levels.
Inflation declined from September’s four-month high of 8.0% to 7.6% in October. The core prices index, which excludes more volatile categories, such as unprocessed food and energy, increased 1.79% over the previous month in October (September: +0.80% month-on-month). Core inflation rose from 8.2% in September to 8.7% in October, hitting a nine-month high.