Turkey: Inflation eases in July from June
Latest reading: Consumer prices increased 31.8% in annual terms in July, following a 32.1% rise in the prior month.
Relative to the prior month’s figures, there were reduced price pressures for transport (+30.8% on a year-on-year basis vs +31.2% in June) and housing and utilities (+40.3% vs +45.1% in June). In contrast, there were more notable price pressures for food and non-alcoholic beverages (+37.5% vs +35.4% in June), restaurants and hotels (+31.7% vs +31.6% in June) and clothing and footwear (+16.5% vs +14.2% in June).
Meanwhile, core consumer prices increased 29.9% in annual terms in July, following a 29.8% rise in the prior month.
Finally, consumer prices increased 1.78% in July in month-on-month terms, following a 0.99% increase in the prior month.