Turkish consumer price inflation accelerates sequentially in December

Turkish consumer price inflation accelerated in the month of December. According to the Turkish Statistical Institute, the headline inflation accelerated to 0.74 percent sequentially from prior month’s 0.69 percent. On a year-on-year basis, the consumer price index came in at 11.84 percent from prior month’s 11.92 percent.

The lowest annual rise was seen in communication, which rose 3.16 percent. Clothing and footwear came in at 4.53 percent, while recreation and culture cane in at 7.03 percent. Furnishing and household equipment rose 9.79 percent, whereas the other main groups saw low rises. Meanwhile, alcoholic beverages and tobacco came in at 43.12 percent, while education came in at 14.46 percent. Health and miscellaneous goods and services recorded 13.63 percent.

Sequentially, the highest decrease was recorded in clothing and footwear, falling 1.91 percent. The other group that indicated a fall was recreation and culture with 0.11 percent amongst the main groups. Meanwhile, food and non-alcoholic beverages with 2.93 percent, transportation with 0.57 percent, health and miscellaneous goods and services with 0.42 percent.

A rise in CPI excluding unprocessed food, energy, alcoholic beverages, tobacco and gold was realized in CPI on the prior month by 0.41 percent. On a year-on-year basis, it came in at 10.76 percent.