Turkey's annual inflation down to 6-month low

New data shows yearly inflation fell to 9.79 percent in July, down from 10.9 percent in June

By Dilara Zengin

ANKARA (AA) - Turkey's annual inflation rate dropped to 9.79 percent in July -- its lowest level in six months, the Turkish Statistical Institute (TurkStat) said Thursday.

Consumer prices fell by 1.1 points, down from 10.9 percent in June, according to TurkStat.

Monthly inflation rose 0.15 percent in July over the previous month.

Earlier this week, Anadolu Agency’s Finance Desk’s survey of 22 economists predicted an average 0.03 percent increase in the monthly rate and an annual rate of 9.52 percent.

The economists forecast year-end inflation of 9.66 percent.

TurkStat’s report showed the highest monthly rises were in the hospitality sector as hotels, cafes and restaurants saw a 1.75 percent increase in prices.

Transport prices rose 15.24 percent, making it the main reason for annual inflation.

Kaynak:

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