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Financial News: Turkey Inflation Slows For Third Month

Turkey Inflation Slows For Third Month

11/04/2019 - 04:20:00 (RTTNews)

(RTTNews) - Turkey consumer price inflation eased for a third straight month and at a slower-than-expected rate in October, figures from the Turkish Statistical Institute showed on Monday.

The consumer price index climbed 8.55 percent year-on-year in October, following a 9.26 percent in September. Economists had expected a 8.65 percent rise. The latest inflation was the lowest seen this year thus far.

Prices for health rose 14.24 percent annually in October and those of education, and hotels, cafe and restaurant increased by 14.20 percent and 13.71 percent, respectively.

On a monthly basis, consumer prices rose 2.0 percent in October. Economists had expected a 2.2 percent growth.

Separate data from the statistical office showed that the producer prices rose 1.70 percent annually in October, after a 2.45 percent increase in September.

Producer price inflation has been slowing since May.

On a month-on-month basis, producer prices increased 0.17 percent in October.

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