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Turkey Inflation Rises … RTT May 03, 2018 at 10:20AM

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Turkey Inflation Rises … RTT

 

Turkey Inflation Rises In April

Turkey’s consumer price inflation accelerated more-than-expected in April, the Turkish Statistical Institute reported Thursday.

Inflation rose to 10.85 percent in April from 10.23 percent in March.

This was the highest inflation seen so far this year and above the expected level of 10.45 percent.

Transportation cost surged 16.45 percent and housing, water and other utilities cost gained 10.63 percent.

Cost of food and non-alcoholic beverages grew 8.81 percent.

On a monthly basis, consumer prices rose 1.87 percent versus 1.31 percent increase in the same period of 2017. Prices were forecast to grow 1.5 percent.

Another report from the statistical office showed that producer price inflation increased notably to 16.37 percent in April from 14.28 percent a month ago.

This was the highest since November 2017. Economists had forecast the index to gain 14.9 percent in April.

Month-on-month, producer prices climbed 2.60 percent versus 0.76 percent rise a year ago and forecast of 1.3 percent.

by RTTNews Staff Writer

 

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