Turkey's inflation at ten-month low

Consumer Price Index in December dropped 0.44 percent; analysts had forecast an increase.

Turkey's inflation at ten-month low

World Bulletin/News Desk

The monthly inflation rate in Turkey unexpectedly declined in December, hitting a ten-month low of 8.17 percent calculated as a moving average of the past 12 months, the Turkish Statistical Institute announced on Monday.

The Consumer Price Index in December declined by 0.44 percent compared with the previous month. 

Turkey's December inflation was forecast to increase 0.03 percent, according to a consumer price inflation survey made by The Anadolu Agency Finance News department.

The country's domestic producer price index also fell by 0.76 percent compared with the previous month.

In early December, Central Bank governor Erdem Basci said that high food prices in the country were delaying an improvement in the inflation outlook.  At the beginning of 2015, Turkey is already seeing a decline in consumer prices.

 

Last Mod: 05 Ocak 2015, 11:38
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