ISTANBUL (Reuters) – Turkish annual consumer price inflation dropped to 51.97% in August, official data showed on Tuesday, just below expectations, declining due to base effects and lower food price rises.
Month-on-month, August consumer price inflation (CPI) was 2.47%, also below expectations, according to the Turkish Statistical Institute. In July, monthly CPI inflation was 3.23%, with the annual rate at 61.78%.
In a Reuters poll, annual inflation was forecast to fall to 52.2% in August. Month-on-month, inflation had been expected to be 2.64%. The poll forecast that annual inflation will be 42.95% at end-2024.
The domestic producer price index was up 1.68% month-on-month in August for an annual rise of 35.75%, the data showed.