Annual Inflation Down to 10.35% in First Month of 2018

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Annual inflation has receded to 10.35 % according to January inflation figures provided by the Turkish Statistical Institute (TÜİK). By end of 2017, annual inflation was at 11.92 %.

In January 2018, a 1.02% increase compared to the previous month, a 10.35% increase compared to the same month of the previous year, and a 11.23% increase with regards to 12 month averages were observed in the consumer price index (2003=100).

In January, the domestic output price index was at 0.99%. The annual rise was recorded to be 12.14%.

Price increase headed by cucumber

Based on consumer prices, the greatest price increase in January compared to the previous month was in cucumbers, with 25.11%.

The price increase in cucumbers was followed by that in the bridge toll with 25% and the highway toll with 23.17%, Turkish Statistical Institute (TÜİK) data showed.

Among other products seeing a price increase in January are green beans with 19.44%, tangerines with 18.81%, eggplants with 15.3%, services related to official documents with 14.07%, magazines with 13.35%, pomegranates with 11.14%, bell peppers with 10.51%, and bananas with 9.54%.

The state of product groups

In terms of product groups, the greatest monthly increase was in various goods and services with 2.96%.

Among the main spending groups featured in the index, household appliances showed an increase of 2.44% in January 2018, while for health this figure was 2.42%, housing 2.34%, and food and non-alcoholic beverages 1.67%.

Shoe prices fall

The group with the greatest monthly decrease was clothing and shoes with 6.02 %.

Another main spending group that suffered a fall in January 2018 was telecommunication, with 0.99 %.

(HK/PU)

* Photograph: Nilay Vardar - bianet/2011