Turkey: Inflation rises in September from August
Latest reading: Consumer prices rose 33.3% on a year-on-year basis in September, following a 33.0% rise in the prior month. The September reading was above market expectations and marked the first rise in inflation in over a year.
Relative to the prior month’s data, there were higher price pressures for food and non-alcoholic beverages (+36.1% in annual terms vs +33.3% in August), transport (+25.3% vs +24.9% in August) and clothing and footwear (+9.8% vs +9.5% in August). In contrast, there were milder price pressures for housing and utilities (+51.4% vs +53.3% in August) and restaurants and hotels (+33.9% vs +34.0% in August).
Meanwhile, core consumer prices rose 32.5% on a year-on-year basis in September, following a 33.0% increase in the prior month.
Finally, consumer prices increased 3.23% in September in month-on-month terms, following a 2.04% increase in the previous month.