Annual Inflation in 2018: 20.30 Percent

The Turkish Statistical Institute has announced the inflation figures for December and 2018. While the consumer inflation has fallen by 0.40 percent in December, the annual consumer inflation has become 20.30 percent in 2018.

İstanbul

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The Turkish Statistical Institute (TurkStat) announced the consumer and producer inflation figures for December and 2018 today (January 3).

According to the figures announced by the Institute, in December 2018, the consumer inflation, which is also termed Consumer Price Index (TÜFE), has decreased by 0.40 percent in comparison with the previous month while it has increased by 20.30 percent when compared to last December and increased by 16.33 percent when compared to 12-month averages.

In November 2018, the Consumer Price Index decreased by 1.44 percent in comparison with the figures in October 2018.

* Change in consumer inflation over the last year

Highest increase in food and non-alcoholic beverages

The figures announced by the TurkStat have shown that while the highest increase in monthly consumer prices has been measured in food and non-alcoholic beverages with 1.08 percent, the highest decrease has been witnessed in the prices of clothing and shoes with 4.08 percent.

As for the highest increase in annual consumer prices, it has been measured in household goods with 31.36 percent, which is followed by some goods and services with 28.80 percent, food and non-alcoholic beverages with 25.11 percent and housing with 23.73 percent.

Price increase in 202 products

While the prices of 44 articles included in the consumer index in December 2018 have not changed, the average prices of 202 products have increased. The prices of 161 articles in the index have fallen in the last month of 2018.

Expectation

Economists participating in the state-run Anadolu Agency (AA) Finance's Expectation Survey estimated that the Consumer Price Index would decrease by 0.34 percent in December.

As for their expectations regarding the year-end consumer inflation, the average of their estimations was 20.36 percent. The year-end inflation forecast of economists in the previous survey was 22.57 percent on average.

Annual producer inflation: 33.64 percent

The TurkStat also announced that in December 2018, the Domestic Producer Price Index (Yİ-ÜFE), which is also termed producer inflation, has decreased by 2.22 percent in comparison with November 2018 while it has increased by 33.64 percent when compared to last December and by 27.01 percent when compared to 12-month averages. (HA/SD)