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Financial News: Turkey Consumer Price Inflation, Producer Prices Rise In

Turkey Consumer Price Inflation, Producer Prices Rise In February

03/03/2020 - 03:11:00 (RTTNews)

(RTTNews) - Turkey's consumer price inflation increased in February, and producer prices rose, figures from the Turkish Statistical Institute showed on Tuesday.

The consumer prices increased 12.37 percent year-on-year in February, following an 12.15 percent rise in January. Economists had expected a 12.7 percent rise.

Prices for alcoholic beverages and tobacco grew 40.15 percent annually in February. Prices for miscellaneous goods and services, and housing, water, electricity, gas other fuels increased by 16.44 percent and 15.31 percent, respectively.

On a monthly basis, consumer prices rose 0.35 percent in February. Economists had expected a 0.65 percent increase.

Separate data from the statistical office showed that the producer prices rose 9.26 percent yearly in February, following a 8.84 percent increase in January.

Among the main industrial sectors, prices for non-durable consumer goods grew 12.77 percent annually in February and energy prices rose 12.34 percent.

Prices for durable goods rose 10.4 percent and those of capital goods and intermediate goods gained by 9.55 percent and 6.46 percent, respectively.

On a month-on-month basis, producer prices gained 0.48 percent in February.

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