World Economy

Turkey Inflation Rises

Turkey Inflation RisesTurkey Inflation Rises

Turkey’s consumer price index increased by 1.16% in June, high above the forecast, while the producer price index increased by 0.21% with annual inflation up at 8.79%, Anadolu Agency reported. Prices rose by 4.84% compared to December 2015 and 7.91% on twelve months moving averages basis. The highest monthly increase was in beverages and tobacco category with 7.05%. Prices increased in food and non-alcoholic beverages category by 3.15%, communications by 1.38%, miscellaneous goods and services by 1.31% and hotels, cafes and restaurants by 1.22%. The only monthly decrease was in clothing and footwear category with 4.14%.