Turkey Inflation Eases To 13-Month Low

(RTTNews) - Turkey's consumer price inflation eased for the third straight month in August to the lowest level in just over a year amid a slowdown in costs for a wide number of categories, figures from the Turkish Statistical Institute showed on Tuesday.

The consumer price index rose 51.97 percent year-over-year in August, much slower than the 61.78 percent surge in July.

Further, this was the weakest inflation since July 2023, when prices had risen 47.83 percent.

Among categories, the annual price growth in food and non-alcoholic beverages eased to 44.88 percent from 58.91 percent. Similarly, inflation based on transportation moderated sharply to 28.96 percent from 46.1 percent.

On a monthly basis, consumer prices increased 2.47 percent in August, after a 3.23 percent gain in June.

Separate data from the statistical office showed that producer price inflation also eased to a 39-month low of 35.75 percent in August from 47.55 percent in the prior month. Monthly, producer prices moved up 1.68 percent versus a 1.94 percent gain in July.