Turkey: Inflation rises in August
September 4, 2015
In August, consumer prices rose 0.40% over the previous month, which followed July’s 0.09% increase. According to the statistical office, August’s increase came on the back of higher prices for hotels, cafes and restaurants along with recreation and culture. In addition, higher prices were recorded for food and non-alcoholic beverages.
Inflation accelerated from July’s 6.8% to 7.1% in August. The rise surprised market analysts, who had predicted an increase to 6.9%. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.37% in August (July: +0.24% month-on-month). Core inflation also rose from 7.3% in July to 7.6% in August.