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Financial News: Turkey Consumer Price Inflation, Producer Prices Rise

Turkey Consumer Price Inflation, Producer Prices Rise

09/03/2020 - 06:47:00 (RTTNews)

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

The consumer prices index rose 11.77 percent year-on-year in August, following an 11.76 percent increase in July. Economists had expected a 11.91 percent rise.

Prices for miscellaneous goods and services grew 26.99 percent yearlly in August. Prices for health gained 14.68 percent and food and non-alcoholic beverages rose 13.51 percent.

On a monthly basis, consumer prices rose 0.86 percent in August. Economists had expected a 1.0 percent increase.

The producer price index rose 11.53 percent yearly in August, following a 8.33 percent increase in July.

Among the main industrial sectors, prices for durable goods grew 17.08 percent annually in August and prices for capital goods gained 18.09 percent.

Prices for intermediate goods and non-durable consumer goods prices rose by 13.58 percent and 10.17 percent.

Meanwhile, energy prices decreased 1.64 percent.

On a month-on-month basis, producer prices increased 2.35 percent in August.

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