Turkey inflation climbs to 9-month high, producer price growth slows

Ankara, Oct. 3, (dpa-AFX/GNA) – Turkey’s consumer price inflation accelerated further in September to the highest level in nine months, figures from the Turkish Statistical Institute showed on Tuesday.

Consumer price inflation rose to 61.53% in September from 58.94% in August.

The latest inflation was the lowest since December last year, when prices had risen 64.27%.

Prices for food and non-alcoholic beverages alone grew 75.14%, and charges for hotels, cafes, and restaurants surged 92.48%.

Health costs advanced 79.79%, while those for housing showed a comparatively lower increase of 20.16%.

Compared to the previous month, consumer prices increased by 4.75% in September versus a 9.09% gain in August.

Separate data from the statistical office showed that producer price inflation eased somewhat to 47.44% in September from 49.41% in August.

Among the main industrial sectors, prices for the mining and quarrying sector rose 69.43%, and those for manufacturing jumped 55.05%.

The slowdown in price growth was attributed to a 17.08% plunge in energy costs.

On a month-on-month basis, producer prices moved up 3.40% in September.

GNA