Newsletters
Annual inflation in Türkiye declined to 31.5% in August, with monthly price growth at 1.8%, official data showed Wednesday, extending the disinflation momentum regained three months ago.
The numbers are broadly in line with market expectations and follow a July reading in which annual inflation slowed to 31.8%, while monthly inflation was recorded at around 1.8%.
Renewed pressure from elevated oil prices pushed the monthly increase in energy costs to 5.5%, up from 2.3% a month earlier. However, seasonal factors continued to contain food prices, with monthly growth slowing further to 0.2%, while a 3.9% decline in clothing and footwear prices also helped offset some of the pressure.
Among the main price categories, transportation costs rose 4.8% month-on-month, while housing, water, electricity, gas and other fuels increased 2.3%.
The figures came as a key indicator for the Central Bank of the Republic of Türkiye (CBRT) ahead of its Monetary Policy Committee (MPC) meeting on Sept. 10, in which the bank is expected to hold its policy rate at 37% after four consecutive meetings.
Details to follow...
Set as preferred source
Set as preferred source
1 min read
1 min read
