World Economy

Turkey Inflation Down to 8.86%

Turkey Inflation Down to 8.86%Turkey Inflation Down to 8.86%

Dropping below economists’ expectations and falling from 9.54 percent in August, annual inflation hit 8.86 percent in September, according to figures from the Turkish Statistics Institute (TurkStat) released. A recent Bloomberg survey of 13 economists forecast the inflation rate to dip to 9.36 percent last month. The highest price increases on a sectorial basis were recorded in the hotel and restaurants group, the prices for which increased 1.21 percent month-on-month. The clothing and footwear sector witnessed the highest monthly decline as prices dropped 2.44 percent. The prices of green onions, hazelnuts and lettuce all rose between 11 and 13% in September month-on-month, accounting for the highest increase among food products last month.