Turkey August Consumer Price Inflation Eases Slightly, Producer Prices Drop

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Thursday, Turkey's statistical office TurkStat announced that the consumer price index or CPI rose 5.33% year-over-year in August, slightly slower than the 5.39% increase in the previous month. Economists had expected the CPI to increase by 5.80%.

On a monthly basis, the CPI declined 0.30% in August, in contrast to the 0.30% growth in the previous month. Economists expected the CPI to rise by 0.2%.

Separately, the statistical office said producer prices dropped 1.04% year-on-year in August, after falling 3.75% in July. Economists were looking for a 1.2% decline.

Month-on-month, producer prices rose 0.42% in August, in contrast to a 0.7% fall seen in the preceding month. Economists had predicted an increase of 0.2%.

(Market News Provided by RTTNews)