Turkey: Annual inflation eases for 2nd month in October

ANKARA (AA) - Turkey’s annual consumer price inflation rate was down for the second month in a row, the October report from the Turkish Statistical Institute (TurkStat) showed on Monday.

Yearly inflation was 7.16 percent in the month, compared to 7.28 percent this September and 7.58 percent in October 2015, the institute said.

Monthly inflation was 1.44 percent in October over the previous month, easily beating forecasts of 1.62 percent.

The median estimate of the inflation expectation survey prepared by Anadolu Agency’s Finance Desk was 1.62 percent on a monthly basis and 7.35 percent on an annual basis.

The report showed that the highest monthly increase was in clothing and footwear with 10.43 percent, while the top sub-indice of yearly consumer price inflation on an annual basis was alcoholic beverages and tobacco, rising 22.61 percent.