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Financial News: Turkey's Inflation Slowest In 6 Months

Turkey's Inflation Slowest In 6 Months

08/03/2017 - 03:19:00 (RTTNews)

(RTTNews) - Turkey's inflation eased to a 6-month low in July, while producer price inflation accelerated to a 3-month high, the Turkish Statistical Institute reported Thursday.

Consumer prices grew 9.79 percent annually, following June's 10.9 percent increase. This was the weakest growth since January, when prices advanced 9.22 percent. Prices were forecast to climb 9.9 percent.

On a monthly basis, consumer prices gained 0.15 percent in July versus the expected growth of 0.17 percent.

Another report from the statistical office showed that producer price inflation accelerated unexpectedly to a 3-month high of 15.45 percent in July from 14.87 percent in June. The annual rate was expected to ease to 14.26 percent.

Month-on-month, producer prices rose 0.72 percent in July compared to the forecast of 0.1 percent.

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