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Turkey: Annual inflation stands at 11.75% in September

Highest annual increase was in miscellaneous goods and services, lowest in alcoholic beverages, tobacco, says TurkStat

Turkey posted an annual increase of 11.75% in consumer prices in the last month, the country’s statistical authority said on Monday.

In September, annual inflation rate dropped slightly by 0.02 percentage points from 11.77% in August, TurkStat announced.

The highest monthly increase was seen in miscellaneous goods and services with 25.17% in September, according to TurkStat data.

It was followed by health at 15.09% and food and non-alcoholic beverages at 14.95%, while the lowest increase was in alcoholic beverages and tobacco 0.68%.

Last week, an Anadolu Agency survey showed that a group of 14 economists forecast an average annual inflation rate of 12.20% for September.

Turkey’s new economic program, unveiled last week, targeted 10.5% inflation rate for this year-end.

On a monthly basis, consumer prices index surged 0.97% in September, the institute noted.

Furnishing and household equipment posted the highest monthly increase of 3.02%, while two items clothing and footwear, and education posted negative inflation by -0.03% and -0.07%, respectively.

“In September 2020 within average prices of 418 items in the index, the average prices of 62 items decreased and the average prices of 42 items remained unchanged while the average prices of 314 items increased,” the institute added.

According to the official figures, the 12-month average hike in consumer prices was 11.47% as of this September.

Over the last decade, the annual inflation saw its lowest level at 3.99% in March 2011, while it peaked at 25.24% in October 2018.

Source :Anadolu Agency

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