Annual Inflation Still in Double-Digit Figures in February: 12.37 Percent

* Photograph: Ferid Demirel / bianet

The Turkish Statistical Institute (TurkStat) announced the consumer and producer price indexes for February 2020 today (March 3).

According to the figures shared by the Institute, the Consumer Price Index (CPI), also termed consumer inflation, has increased by 0.35 percent in comparison with January 2020, by 12.37 percent when compared to February 2019 and by 13.94 percent according to 12-month averages.

In early December last year, the TurkStat announced that annual consumer inflation increased from 8.55 percent to 10.56 percent in November. Since then, consumer inflation has still been in double-digit figures.

* Annual rate of changes in CPI (%), February 2020

The TurkStat has also shared the following figures about the consumer and producer price indexes for February 2020:

Highest annual increase in alcohol, tobacco again

The highest annual increase in prices was in alcoholic beverages and tobacco with 40.15 percent, which was followed by miscellaneous goods and services with 16.44 percent and housing with 15.31 percent.

The lowest annual increase was measured in the prices of communication with 2.27 percent, footwear with 5.98 percent, recreation and culture with 6.01 percent and furnishing and household equipment with 7.36 percent.

* CPI annual rate of changes in main groups (%), February 2020

Highest monthly increase in food and beverages

In February 2020, the highest monthly increases were recorded in the prices of food and non-alcoholic beverages with 2.33 percent, which was followed by health with 2.03 percent and by education with 0.86 percent.

According to the TurkStat figures, the highest monthly decrease was in the prices of clothing and footwear with 4.83 percent last month. This group was followed by alcoholic beverages and tobacco with a 1.34 percent decrease, by transportation with 0.38 percent and by communication with 0.22 percent.

Prices of 248 items increased

In February, within average prices of 418 items in the consumer price index, average prices of 24 items remained unchanged while average prices of 248 items increased and those of 146 items decreased.

Producer inflation

Sharing figures about the domestic producer price index (D-PPI) in February 2020 as well, the TurkStat has announced that the producer inflation increased by 0.48 percent on a monthly basis, increased by 2.33 percent in comparison with December 2019, increased by 9.26 percent when compared with February 2019 basis and increased by 14.18 percent on the twelve months moving averages basis.

Highest annual and monthly increases

The TurkStat has indicated that domestic producer inflation in four main sectors of industry increased by 12.26 percent for mining and stone quarrying, increased by 8.52 percent for manufacturing, increased by 19.24 percent for electricity, gas, steam and air conditioning and increased by 5.27 percent for water supply, annually.

* D-PPI annual rate of change (%), February 2020

On a monthly basis, the domestic producer inflation in four main sectors of industry increased by 1.44 percent for mining and stone quarrying, increased by 0.66 percent for manufacturing, decreased by 2.38 percent for electricity, gas, steam and air conditioning decreased by 0.07 percent for water supply. (SD)

* Source: TurkStat