Inflation Hits 16-Year High in September

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The Turkish Statistical Institute (TurkStat) announced the inflation figures for September 2018 today (October 3).

In September 2018, the consumer inflation, which is also called consumer price index, increased by 6.30 percent in comparison with August 2018, by 19.37 percent in comparison with December 2017, by 24.52 percent in comparison with September 2017 and increased by 13.75 percent in comparison with the 12-month averages.

The increase in consumer inflation on a monthly basis, which has been announced as 6.30 percent, was expected to be 3.46 percent.

While the producer price index increased by 10.88 percent on a monthly basis in September 2018, the Annual Domestic Producer Price Index, which was expected to be 39.6 percent, has been announced as 46.15 percent.

The annual increase has marked the highest level since May 2002. In May 2002, the Annual Domestic Producer Price Index was 46.20 percent.

Changes in comparison with previous month and year

In August 2018, inflation increased by 2.3 percent on a monthly basis and the annual inflation increased from 15.85 percent to 17.90 percent. In the same period, while the producer prices increased by 6.6 percent, the Annual Domestic Producer Price Index exceeded 32 percent.

In September 2017, inflation on a monthly basis was 0.65 percent and inflation on an annual basis was 11.20 percent. (EKN/SD)