Turkey's inflation above market expectations in October
by Daily Sabah
ISTANBULNov 03, 2015 - 12:00 am GMT+3
by Daily Sabah
Nov 03, 2015 12:00 am
Turkey's inflation increased by 7.58 percent in October when compared to the same month of the previous year, while the monthly increase was above expectations at 1.55 percent, according to data released by the Turkish Statistical Institute (TurkStat) on Monday. Prices increased by 7.86 percent since last December as well as increased by 7.69 percent on a 12-month moving averages basis.
The highest monthly price increase was in the clothing and footwear category with 11.43 percent, followed by the transportation category with 1.40 percent, furnishings and household equipment with 1.39 percent, miscellaneous goods and services with 1.05 percent and education with 1.03 percent.
The only monthly price decrease was in the alcoholic beverages and tobacco category with 0.01 percent.
The highest annual price increase was announced in the miscellaneous goods and services category with 11.57 percent, followed by recreation and culture with 10.86 percent, furnishings and household equipment 10.72 percent and food and non-alcoholic beverages with 8.69 percent.
Geographically speaking, the highest annual increase in prices occurred in the northwestern provinces of Bursa, Eskişehir and Bilecik provinces with 8.29 percent. Northwestern Balıkesir and Çanakkale were provinces with highest price increases with 9.06 percent since December. On 12-months moving averages basis, southeastern Şanlıurfa and Diyarbakır provinces had the highest price increases with 8.28 percent.
Regarding the average prices of 426 items listed on the TurkStat index, the average prices of 50 items remained unchanged in September, while the average prices of 296 items increased and average prices of 80 items decreased