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Financial News: Turkey Inflation Eases More Than Expected In June

Turkey Inflation Eases More Than Expected In June

07/03/2017 - 04:09:00 (RTTNews)

(RTTNews) - Turkey's consumer price inflation eased at a faster-than-expected pace in June to the lowest level in four months, figures from the Turkish Statistical Institute showed Monday.

The consumer price index climbed 10.9 percent year-over-year in June, slower than the 11.7 percent spike in May. Economists had expected the inflation to ease to 11.4 percent.

Moreover, the latest inflation was the weakest since February, when prices had grown 10.1 percent.

Prices of food and non-alcoholic beverages surged 14.3 percent annually in June and transport costs grew by 14.1 percent.

On a monthly basis, consumer prices dropped 0.3 percent from May, when it increased by 0.5 percent. In contrast, it was expected to rise by 0.1 percent.

Another report from the statistical office showed that producer price inflation slowed to 14.87 percent in June from 15.26 percent in May. Month-on-month, producer prices edged up 0.1 percent.

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