Turkey: Inflation ticks down in August
September 5, 2016
In August, consumer prices fell 0.29% over the previous month. The print contrasted the 1.16% rise in July and marked the first drop since June 2015. According to the statistical office, August’s decline reflected much lower prices for clothing and footwear as well as for food and non-alcoholic beverages.
Inflation slowed from July’s six-month high of 8.8% to 8.1% in August. The print came in below the 8.4% that market analysts had expected.
The core prices index, which excludes more volatile categories, such as unprocessed food and energy, increased 0.28% in August over the previous month (July: +0.76% month-on-month). Core inflation inched down from July’s 9.5% to 9.4% in August.