Turkey: Inflation tumbles to 10-month low in December
January 5, 2015
In December, consumer prices fell 0.44% over the previous month, which contrasted the 0.18% rise recorded in November. According to the statistical office, the reading was primarily the result of lower prices for clothing and footwear as well as for transportation.
Annual inflation dropped from 9.2% in November to 8.2% in December. The print came in under market expectations of 8.9% and represented a 10-month low.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, declined 0.21% in December over the previous month (November: +0.58% month-on-month). Annual core inflation inched down from 9.5% in November to 9.4% in December.