Turkey saw a 16.65% annual hike in consumer prices last month, the Turkish Statistical Institute (TurkStat) reported Monday.
The annual inflation in July rose by 0.93 percentage points from 15.72% previous month.
The highest price increase on a yearly basis was seen in miscellaneous goods and services with 26.93% in July.
"Furnishing and household equipment with 25.41%, hotels, cafes and restaurants with 19.85%, alcoholic beverages and tobacco with 19.23% and food and non-alcoholic beverages with 18.21% were the other main groups where high annual increases were realized," TurkStat said.
Last week, an Anadolu Agency survey showed that a group of 12 economists forecast an average annual climb of 16.70% in consumer prices.
According to economists' average year-end estimates, annual inflation would be 14.8% -- with the lowest estimate at 13.3%, and the highest at 17.2%.
Over the past five years, annual inflation saw its lowest level in April 2016, with 6.57%, and its highest level last October with 25.24%.
As laid out in Turkey's new economic program announced by the government last September, the country's inflation rate target is 15.9% this year, 9.8% next year, and 6.0% in 2021.
According to the Inflation Report 2019-III released by Turkey's Central Bank in July 31, the year-end annual inflation is forecasted to reach 13.9% in 2019.
On a monthly basis, the consumer prices went up 1.36% in July.
The highest monthly decline was 3.20% in clothing and footwear, as the highest monthly increase was seen in transportation, up 4.46%.
TurkStat data also showed that the 12-month average hike in consumer prices was 19.91% last month.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.