Inflation Figures For August Were Announced

Inflation figures for August were announced. Inflation exceeded the policy rate.

According to the data announced by the Turkish Statistical Institute (TurkStat), the consumer price index increased by 19.25 percent in August compared to the same period of the previous year. On a monthly basis, it was observed that the increase was 1.12 percent in August. Core inflation, on the other hand, decreased compared to the previous month. Accordingly, annual core inflation, which was 17.22 percent in July, was reduced to 16.76 percent.

Food Inflation Hits 28-Month High

The rapid rise in food inflation in consumer prices drew attention. In August, food prices increased by 29 percent compared to the previous year. Thus, the highest increase in annual food inflation since April 2019 was recorded. In August, the food group was the group with the highest increase. The food and non-alcoholic beverages group was followed by household goods with 22.91 percent and transportation with 21.76 percent. The lowest annual increase was 1.79 percent in the alcoholic beverages and tobacco group. The other main groups in which the increase was lower compared to the same month of the previous year were communication with 4.79 percent, clothing and shoes with 7.47 percent and education with 10.75 percent.