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Financial News: Turkey Consumer Price Inflation; Producer Prices Rise

Turkey Consumer Price Inflation; Producer Prices Rise

09/03/2021 - 06:03:00 (RTTNews)

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

The consumer prices index rose 19.25 percent year-on-year in August, following a 18.95 percent increase in July. Economists had expected a growth of 18.7 percent.

Prices for food and non-alcoholic beverages accelerated 29.0 percent yearly in August. Prices for furnishings and household equipment, and transportation gained 22.91 percent and 21.79 percent, respectively.

Prices for hotels, cafes and restaurants, and housing surged by 21.48 percent and 19.30 percent, respectively.

On a monthly basis, consumer prices rose 1.12 percent in August. Economists had forecast an increase of 0.6 percent.

The producer price index rose 45.52 percent annually in August, following an 44.92 percent increase in July.

Among the main industrial sectors, prices for intermediate goods gained 54.71 percent yearly in August and durable goods increased 29.12 percent.

Prices for capital goods grew 27.48 percent. Prices for non-durable consumer goods and energy rose by 31.49 percent and 59.39 percent, respectively.

On a month-on-month basis, producer prices increased 2.77 percent in August.

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