Highest rate in two years | Monthly inflation nears 2 percent in Turkey

* Photo: Esen Tour (Highest price increase in domestic tours)

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The Turkish Statistical Institute (TurkStat), the state agency commissioned with producing official statistics on Turkey, released the "Consumer Price Index" for June 2021 earlier today (July 5).

According to the TurkStat statistics, the Consumer Pride Index (CPI), also known as the consumer inflation, increased by 17.53 percent annually and 1.94 percent monthly in June 2021. 17.53 percent is the highest figure which has been recorded in Turkey in the last two years.

Annual rate of changes in CPI (by percent) - June 2021

The TurkStat has indicated that the rise realized in the CPI in June was 8.45 percent when compared to December 2020 and 14.55 percent on the basis of the twelve-month moving averages.

Other highlights from the index are as follows:

Price increases on an annual basis

Transportation with 26.29 percent, furnishings and household equipment with 25.69 percent, food and non-alcoholic beverages with 19.99 percent were the main groups with high annual increases.

The lowest annual increase was 2.01 percent in alcoholic beverages and tobacco. Communication with 6.13 percent, clothing and footwear with 7.05 percent and education with 10.86 percent were the other main groups where lowest annual increases were realized.

Price increases on a monthly basis

Furnishings and household equipment with 4.50 percent, recreation and culture with 4.46 percent and hotels, cafes and restaurants with 3.82 percent were the main groups with high monthly increases.

Considered by items in the index, the highest price increase on a monthly basis was observed in domestic tours for a week or longer: 51.60 percent. It was followed by vacuum cleaners with a monthly price increase of 14.72 percent and by cosmetics with 14.60 percent.

The highest monthly decrease was 0.01 percent in alcoholic beverages and tobacco. Communication with 0.35 percent, health with 0.80 percent and food and non-alcoholic beverages with 0.88 percent were the main groups that indicated the lowest monthly increase.

Prices of 306 items increased in June

In June 2021, within average prices of 415 items in the index, the average prices of 55 items decreased and the average prices of 54 items remained unchanged while the average prices of 306 items increased.

A rise in the CPI excluding unprocessed food, energy, alcoholic beverages, tobacco and gold was realized in CPI on the previous month by 2.44 percent, on December of the previous year by 9.08 percent, on same month of the previous year by 18.16 percent and on the twelve months moving averages basis by 14.87 percent in June 2021. (HA/SD)