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Turkey's 2015 inflation exceeds target, expectations
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Turkey's 2015 inflation exceeds target, expectations

Turkey's consumer prices rose by 8.81 percent in 2015, exceeding the target set by the Central Bank at 5.0 percent and the market expectations at around 8.5 percent, according to the data released by TurkStat on Monday.Consumer prices rose by 0.21 percent in December, despite the expectations at around a flat development or slightly fall, which carried the annual inflation to 8.81 percent.The highest monthly increase was 1.24 percent in food and non-alcoholic beverages in December, while prices of furnishings and household equipment rose by 0.53 percent, miscellaneous goods and services by 0.4

Turkey's consumer prices rose by 8.81 percent in 2015, exceeding the target set by the Central Bank at 5.0 percent and the market expectations at around 8.5 percent, according to the data released by TurkStat on Monday.

Consumer prices rose by 0.21 percent in December, despite the expectations at around a flat development or slightly fall, which carried the annual inflation to 8.81 percent.

The highest monthly increase was 1.24 percent in food and non-alcoholic beverages in December, while prices of furnishings and household equipment rose by 0.53 percent, miscellaneous goods and services by 0.45 percent, housing 0.43 percent and hotels, cafes and restaurants 0.33 percent.

The highest monthly decrease was by 1.98 percent in clothing and footwear, due to the seasonal sale campaigns of the retail business, while prices also fell in transportation by 0.57 percent, communications by 0.22 percent, recreation and culture by 0.17 percent.

The highest annual increase was 13.23 percent in hotels, cafes and restaurants, followed by recreation and culture with 11.56 percent, miscellaneous goods and services with 11 percent, furnishings and household equipment with 10.95 percent, food and non-alcoholic beverages with 10.87 percent.

In December within 426 items in the index, average prices of 54 items remained unchanged while average prices of 253 items increased and average prices of 119 items decreased.

 



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