Turkish Inflation Rate Eases to 7-Month Low
Consumer prices in Turkey increased 10.26 percent year-on-year in February 2018, easing from a 10.35 percent gain in the previous month. It was the lowest inflation rate since July, as prices rose at a slower pace for housing and transportation.
Year-on-year, prices went up at a softer pace for: housing and utilities (9.46 percent from 10.18 percent in January); transportation (13.19 percent from 16.02 percent); clothing and footwear (11.77 percent from 12.63 percent); miscellaneous goods and services (10.77 percent from 11.38 percent). In addition, cost fell for communication (-0.13 percent from 0.29 percent).
Meanwhile, inflation picked up for: food and non-alcoholic beverages (10.27 percent from 8.76 percent); hotels, cafes and restaurants (11.53 percent from 11.42 percent); recreation and culture (8.24 percent from 7.19 percent); furnishing, household equipment, routine maintenance of the house (15.66 percent from 13.49 percent); health (9.94 percent from 9.51 percent); and education (10.88 percent from 10.68 percent). Alcoholic beverages and tobacco inflation was unchanged at 0.89 percent in February.
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, fell to 11.94 percent in February from 12.18 percent in January.
On a monthly basis, consumer prices went up 0.73 percent in February, slowing from a 1.02 percent rise in January but beating market expectations of a 0.5 percent gain. The sharpest price increase was recorded for health (2.57 percent), followed by food and non-alcoholic beverages (2.24 percent), recreation and culture (1.89 percent), furnishing, household equipment, routine maintenance of the house (1.23 percent), and hotels, cafes and restaurants (0.95 percent).
3/5/2018 11:39:50 AM