- BIST10012,151-0.94%
- USD49.34+0.24%
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- GOLD4,215.30+0.59%
- INTEREST37.00%-1.00
- BITCOIN83,537+2.18%
- October 13, 202617°
- BIST10012,151-0.94%
- USD49.34+0.24%
- EUR55.21-0.01%
- GOLD4,215.30+0.59%
- INTEREST37.00%-1.00
- BITCOIN83,537+2.18%
- October 13, 202617°
Inflation in July rises 1.78% monthly, 31.75% annually
TurkStat data shows the CPI rose 1.78% monthly and 31.75% annually in July. The 12-month average rent increase rate for August was set at 31.9%.
The Turkish Statistical Institute (TurkStat) released the July inflation figures. The Consumer Price Index (CPI) rose 1.78% month-on-month and 31.75% year-on-year in July. The Domestic Producer Price Index (D-PPI) increased by 1.52% monthly and 27.83% annually.
Based on 12-month averages, the CPI was recorded at 31.9% and the D-PPI at 27.54%. This rate also sets the ceiling for rent increases in August. Accordingly, the rent increase rate for residential and commercial properties will be 31.9%.
Economists participating in the AA Finance Inflation Expectation Survey had forecast a 1.82% monthly and 31.8% annual rise in the CPI for July. Actual inflation came in slightly below expectations.
Sectoral Outlook in D-PPI
When examining annual changes across the four industrial sectors, mining and quarrying rose 41.81%, manufacturing rose 28.96%, electricity, gas production and distribution rose 11.69%, and water supply rose 28.85%. On a monthly basis, mining and quarrying declined 4.22%, while electricity, gas production and distribution posted the highest increase at 9.65%.
Products with the Highest Price Increases
Among the products with the highest price increases in July, outpatient therapeutic and rehabilitative services took first place with a 50.42% rise. They were followed by fresh or chilled other vegetables (such as onions, garlic, carrots, mushrooms, olives) at 25.87%, tuberous vegetables at 21.63%, fresh fruiting vegetables (such as tomatoes, peppers, cucumbers, zucchini) at 14.53%, and diagnostic imaging services at 12.34%.
Products with the Highest Price Decreases
Last month, the steepest price decline was seen in fresh other fruits, down 20.44%. This was followed by fresh citrus fruits at 12.97%, fresh dates, figs and other tropical fruits at 11.76%, eggs at 10.99%, and fresh leafy or stem vegetables at 10.29%.
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