Key Takeaways:
- Turkey’s inflation rate has slowed for the second consecutive month.
- The decline in inflation was observed across most major categories.
- Core inflation also showed a significant decrease.
- Despite the slowdown, monthly inflation accelerated.
Ankara, August 5 (FinanceFlashNews) – Turkey’s annual inflation rate cooled significantly to 61.78% in July from 71.6% in June, according to data released by the Turkish Statistical Institute. The figure came in below economists’ forecasts of 62.1%.
This marks the second consecutive month of slowing inflation in Turkey, with the rate reaching its lowest level since October 2023. The deceleration was observed across most major categories, particularly in food and non-alcoholic beverages (down to 58.91% from 67.93% in June) and transportation (down to 46.07% from 65.67%).
Core inflation, which excludes volatile food and energy prices, also declined to 60.23% in July from 71.41% in the previous month.
On a month-on-month basis, consumer prices in Turkey rose by 3.23% in July, compared with a 1.64% increase in June.
