Annual Inflation in July: 16.65 Percent

* Highest monthly price increase recorded in transportation - Photo: Nadire Mater / bianet

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The Turkish Statistical Institute (TurkStat) announced the inflation figures for July 2019 today (August 5). Accordingly, while the consumer inflation has increased by 1.36 percent in comparison with the previous month, the annual inflation has been measured as 16.65 percent.

The domestic producer price index has decreased by 0.99 percent on a monthly basis while the annual producer inflation has become 21.66 percent. When the 12-month averages are taken into consideration, consumer prices have increased by 19.91 percent and domestic producer prices have increased by 32.34 percent.

* Changes in consumer inflation over the course of 2018 and 2019 so far

Highest monthly price increase in transportation

The highest monthly price increase has been measured in transportation with 4.46 percent. The price increase in transportation has been followed by household goods with 4.24 percent, housing with 3.10 percent, entertainment and culture with 1.60 percent and restaurants and hotels with 1.42 percent.

Highest monthly decrease in clothing and shoes

As for the highest price fall on a monthly basis in July 2019, it has been measured in the prices of clothing and shoes. Another group with a fall in its prices is food and non-alcoholic beverages with 1.11 percent.

Highest annual increase in some goods and services

While the highest annual increase has been recorded in some goods and services with 26.93 percent, this group has been followed by household goods with 25.41 percent, restaurants and hotels with 19.85 percent, alcoholic beverages and tobacco with 19.23 percent and food and non-alcoholic beverages with 18.21 percent.

While the average prices of 48 products in the consumer index did not change in July 2019, the average prices of 264 products increased. There was a decrease in the average prices of 106 products.

Expectations

Economists participating in the state-run Anadolu Agency (AA) Finance's Inflation Expectation Survey anticipated that the monthly consumer inflation would be measured as 1.4 percent in July 2019. As for the average of the annual consumer inflation expectations of economists, it was 14.8 percent. (HA/SD)