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Turkish inflation rate at 6-month low of 19.67%

Staff Writer |
The Turkish consumer price inflation eased slightly to 19.67% year-on-year in February 2019 from 20.35% in the prior month, and slightly below market expectations of 19.9%.

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It was the lowest inflation rate since August, as both food and housing prices went up softer while transport prices rose faster.

Prices advanced softer for: food and non-alcoholic beverages (29.25% vs 30.97% in January); housing and utilities (16.56% vs 17.16%); furnishing and household equipment (27.59% vs 29.07%); clothing and footwear (11.62% vs 12.47%); hotels, cafes and restaurants (19.79% vs 19.89%); miscellaneous goods and services (28.08% vs 29.63%).

Meanwhile, prices went up faster for both transportation (15.18% vs 14.71%) and alcoholic beverages and tobacco (2.71% vs 2.63%).

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, declined to 18.12% in February from 19.02% in the previous month, marking the lowest inflation since August.

On a monthly basis, consumer prices increased 0.16% in February, following a 1.06% rise in January and compared to market expectations of a 0.4% rise.

The sharpest increases were recorded for health (2.48%), education (1.64%), food and non-alcoholic beverages (0.90%), cafes and restaurants (0.87%), and transportation (0.71%).

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