Inflation Rate in August Remains Below Expectations

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

According to the Turkstat, while the consumer price index in August 2018 has increased by 2.30 percent in comparison with July 2018, it has increased by 17.90 percent compared to the figures in August 2017.

The inflation has increased by 12.29 percent in comparison with December 2017 and increased by 12.61 percent according to 12-month averages.

While the highest increase in inflation rate has been measured in the category of some goods and services by 5.85 percent in August 2018, the only decrease has been measured in clothes and shoes by 1.59 percent.

Expectations

The economists who took part in the state-run Anadolu Agency Finance's Inflation Expectation Survey previously anticipated that the inflation in August 2018 would be 2.15 percent on average.

According to this average, it was expected that the annual inflation rate, which was 15.85 percent last month, would be measured as 17.73 percent. The year-end average inflation was also expected to be 17.95 percent.

According to the expectations of the 17 institutions which took part in the survey of Bloomberg HT, the consumer price index would be 2.5 percent on monthly basis and 18.19 percent on annual basis. (HA/SD)