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Financial News: Turkey Consumer Price Inflation Slows; Producer Prices Ris

Turkey Consumer Price Inflation Slows; Producer Prices Rise

08/04/2020 - 04:27:00 (RTTNews)

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

The consumer prices index rose 11.76 percent year-on-year in July, following an 12.62 percent increase in June. Economists had expected a 12.10 percent rise.

Prices for alcoholic beverages and tobacco grew 21.78 percent annually in July. Prices for miscellaneous goods and services, and health increased by 21.90 percent and 14.17 percent, respectively.

On a monthly basis, consumer prices rose 0.58 percent in July. Economists had expected a 0.9 percent increase.

The producer price index rose 8.33 percent yearly in July, following a 6.17 percent increase in June.

Among the main industrial sectors, prices for durable goods grew 14.54 percent annually in July and prices for capital goods gained 13.5 percent.

Prices for non-durable consumer goods and intermediate goods prices rose by 8.38 percent and 8.47 percent. Energy prices increased 0.65 percent.

On a month-on-month basis, producer prices increased 1.02 percent in July.

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