Inflation Hits 15-Year High: 25.24 Percent

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The Turkish Statistical Institute (TurkStat) announced the inflation figure for October 2018 today (November 5).

In October, the consumer inflation has increased by 2.67 percent in comparison with September 2018; by 22.56 percent in comparison with December 2017; by 25.24 percent in comparison with October 2017; and by 14.90 percent in comparison with 12-month averages.

The monthly inflation in October, which has been announced as 2.67 percent, was estimated to be 1.93 percent by economists participating in the "inflation expectation survey" conducted by the state-run Anadolu Agency.

While the producer prices index has increased by 0.91 percent on a monthly basis, the annual domestic producer price index has become 45.01 percent, increasing by 23.73 percent in comparison with 12-month averages.

Highest increase in consumer inflation in clothing and shoes

While the highest increase in the monthly consumer inflation has been measured in clothing and shoes by 12.74 percent, the only decrease in inflation rates has been recorded in transportation by 0.85 percent.

Highest increase in producer inflation in crude oil and natural gas

In comparison with September 2018, the highest increase in the monthly producer inflation has been measured in the prices of crude oil and natural gas by 20.78 percent. It has been followed by an increase of 8.62 percent in the prices of electricity, gas production and distribution and an increase of 7.33 percent in the prices of wood and cork products. (HA/SD)