Turkey's annual inflation slowed to a 13-month low of 51.97% in August, according to the Turkish Statistics Institute (TÜİK).
Consumer prices in Turkey advanced 2.47% month-on-month in August, easing from the 3.23% increase in July, showed TÜİK data.
Food and non-alcoholic beverage prices fell 1.1% monthly for an annualized increase of 44.88%, while clothing prices rose 0.35% month-on-month and 29.38% year-on-year.
The monthly increase in housing prices was 8.5%, which brought the annual rise to 101.5%, according to TÜİK data.
Education costs surged 11.34% month-on-month, while the year-on-year increase came in at 121%. Prices at restaurants and hotels rose 2% monthly and 67.7% annually in August. Transport costs were up 2.95% last month from July and they increased 28.96% from August last year.
The B-index, one of the Central Bank’s favored core inflation indicators, which excludes prices of unprocessed food, energy, alcoholic beverages, tobacco products and gold, rose 2.88% in August, up from the previous month’s 2.47%. The annual increase in the B-index, however, slowed from 60.3% to 50.87%.
The C-index, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold prices, posted a monthly increase of 2.99%, up from 2.45% in July. The annual increase in this index eased from 60.23% to 51.56%.
