Inflation Data of October Has Been Announced

Inflation Data of October Has Been Announced Inflation data of October has been announced. Inflation increased by 2.13 percent in October, reaching 11.89 percent annually. Turkish Statistical Institute (TURKSTAT) has announced the inflation data. Accordingly, based on 12-month averages as of October, consumer prices increased by 11.74 percent and domestic producer prices increased by 9.11 percent. On a monthly basis, CPI increased 2.13 percent and D-PPI increased 3.55 percent. The CPI increased by 10.64 percent in October compared to December last year and 11.89 percent compared to the same month last year. D-PPI increased 17.48 percent compared to December 2019 and 18.20 percent compared to October last year. Looking at the changes in the 4 sectors of the industry on an annual basis in October, it was seen that there was 17.01 percent increase in mining and quarrying, 19.81 percent in manufacturing, 12.49 percent increase in water supply, 1.62 percent decrease in electricity, gas production and distribution. There was an increase of 1.45 percent in mining and quarrying, 3.74 percent in manufacturing, 2.39 percent in electricity, gas production and distribution, and 0.28 percent in water supply. Looking at the annual changes of the main industrial groups, there was an increase of 23.41 percent in intermediate goods, 22.39 percent in durable consumer goods, 15.36 percent in nondurable consumer goods, 24.41 percent in capital goods and 2.88 percent decrease in energy. There was an increase of 4.26 percent in intermediate goods, 3.27 percent in durable consumer goods, 2.47 percent in nondurable consumer goods, 2.84 percent in energy and 3.67 percent in capital goods. The highest annual decline was calculated as tobacco products with 15.8 percent, crude oil and natural gas with 11.05 percent, coke and refined petroleum products with 8.85 percent. On the other hand, metal ores were the sub-sectors with the highest increase in indices with 47.76 percent, basic metals with 36.12 percent and other manufactured goods with 35.11 percent. The highest monthly decline was in crude oil and natural gas sub-sectors with 6.09 percent and basic pharmaceutical products and preparations with 0.16 percent. On the other hand, coke and refined petroleum products with 5.87 percent, basic metals 5.75 percent, paper and paper products recorded as the sub-sectors with the highest increase in indices with 4.88 percent.   Most Increase was on Shoes and Clothing Looking at the price changes of the main spending groups in October, the highest monthly increase was seen in clothing and shoes with 6.81 percent. This was followed by food and non-alcoholic beverages with 3.03 percent and household items with 2.45 percent. The highest decrease was in the entertainment and culture group with 0.09 percent in October in terms of main spending groups. There was also a 0.01 percent decrease in alcoholic beverages and tobacco. While there was no change in education on a monthly basis, the groups that showed the least increase were communication with 0.23 percent, restaurants and hotels with 0.71 percent, and health with 0.88 percent.   Annual Changes The highest increase in CPI on an annual basis was seen in the various goods and services group with 27.4 percent. This was followed by food and non-alcoholic beverages with 16.51 percent and health with 15.6 percent. During this period, there was an increase of 13.92 percent in transportation and 12.98 percent in household goods. Compared to the same month last year, the main expenditure groups with low increase in October were alcoholic beverages and tobacco with 0.67 percent, clothing and footwear with 2.22 percent, communication with 5.48 percent, and education with 7.36 percent. Of the 418 items covered in the index last month, the average price of 52 items decreased, while 42 remained unchanged and 324 increased.