03 Şubat 2016 Çarşamba 07:32
Annual inflation approaches double digit in Jan. by 9.58 pct

– The inflation rate rose by 1.82 percent, slightly above expectations, in January, triggered by a series of price increases from electricity to food, lifting the annual inflation to 9.58 percent, close to double digit level.

According to the data released by Turkstat, the highest monthly increase was 9.60 percent in alcoholic beverages and tobacco in January. The indices rose for food and non-alcoholic beverages 4.28 percent, for miscellaneous goods and services 2.71 percent, for health 2.42 percent and for recreation and culture 2.09 percent.

The only monthly fall was in clothing and footwear with 6.71 percent.

Meanwhile, the highest annual increase was in hotels, cafes and restaurants by 13.43 percent.

Recreation and culture rose by 12.05 percent, food and non-alcoholic beverages by 11.69 percent, miscellaneous goods and services by 11.21 percent, alcoholic beverages and tobacco by 11.17 percent, marking other high annual increases for January.

In January 2016 within average prices of 417 items in the index, average prices of 29 items remained unchanged while average prices of 285 items increased and average prices of 103 items fell.

International Monetary Fund (IMF) has said Turkey's “strong economic growth” will continue in 2016, however high inflation will go along with the growth this time, in a statement released on Feb. 2.

(Graphic)

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