Inflation Hits Double-Digit Figures Again: 10.56 Percent

* Annual rate of change (Graph: TurkStat)

Click to read the article in Turkish

The Turkish Statistical Institute (TurkStat) has announced the consumer and producer price indexes for November 2019.

According to the figures shared by the Institute, the Consumer Price Index (CPI), which is also termed consumer inflation, increased by 0.38 percent in comparison with the previous month, by 11.01 percent in comparison with December 2018, by 10.56 percent in comparison with November 2018 and by 15.87 percent in comparison with 12-month averages.

That being the case, the annual consumer inflation, which was 8.55 percent last month, has hit double-digit figures again.

Highest monthly increase in clothing, footwear

In November 2019, the highest monthly price increase was in clothing and footwear with 2.69 percent, which was followed by furnishing and household equipments with 0.59 percent, communication with 0.39 percent, housing with 0.36 percent and transportation with 0.33 percent.

The highest monthly decrease, on the other hand, was in the prices of miscellaneous goods and services with 0.44 percent, which was followed by hotels, cafes and restaurants with 0.15 percent amongst the main groups.

Highest annual increase in alcohol, tobacco

In November, the highest annual price increase was in alcoholic beverages with 43.35 percent, which was followed by education with 14.35 percent, miscellaneous goods and services with 14.03 percent, health with 13.85 percent and hotels, cafes and restaurants with 13.07 percent.

Prices of 296 items increased

In November, within average prices of 418 items in the consumer price index, average prices of 33 items remained unchanged while average prices of 296 items increased and those of 89 items decreased.

Producer inflation

According to the domestic producer index announced by the TurkStat, the index decreased by 0.08 percent on monthly basis, increased by 6.63 percent in comparison with December 2018, increased by 4.26 percent in comparison with November 2018 and increased by 19.68 percent on the twelve months moving averages basis.

The domestic producer price index decreased by 0.08 percent for mining and stone quarrying, decreased by 0.04 percent for manufacturing, decreased by 0.53 percent for electricity, gas, steam and air conditioning, increased by 0.19 percent for water supply when compared with the previous month.

Highest monthly decrease in crude petroleum and natural gas

The highest rates of monthly decrease in domestic producer price index by subdivisions of industry were index for crude petroleum and natural gas by 4.85 percent, for basic metals by 1.80 percent, for chemicals and chemical products by 1.39 percent. On the other hand, the highest rates of monthly increase in the index by sub-divisions of industry were other transport equipment by 3.48 percent, for food products by 1.48 percent, for beverages by 1.31 percent. (HA/SD)

* Source: TurkStat