Turkey: Inflation tumbles to 20-month low in January
February 3, 2015
In January, consumer prices rose 1.10% over the previous month, which contrasted December’s 0.44% fall. According to the statistical office, the reading was primarily the result of higher prices for food and non-alcoholic beverages, as well as for alcoholic beverages and tobacco.
Annual inflation dropped from 8.2% in December to 7.2% in January. The print represented a 20-month low, however it came in over market expectations of 6.8%.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.63% in January (December: -0.21% month-on-month). Annual core inflation inched down from 9.4% in December to 8.9% in January.