According to data from the Turkish Statistical Institute (TÜİK), consumer prices increased by 65.93% and domestic producer prices increased by 47.55% in July compared to the 12-month average.
Market expectations were for a 3.51% increase in CPI in July and a decline in annual inflation to 62.23%.
The CPI increased by 3.23% m/m, while the PPI increased by 1.94%. In July, the CPI was 28.76% higher than December of the previous year and 61.78% higher than the same month last year. This is the lowest rate recorded since November 2023, when the CPI was calculated as 61.98%.
The PPI was 21.81% higher than December 2023 and 41.37% higher than July of the previous year.
According to data from the Turkish Statistical Institute (TÜİK), the PPI increased 1.94% compared to the previous month, 21.81% compared to December of the previous year, 41.37% compared to the same month last year, and 47.55% compared to the 12-month average in July.
The annual changes in the four sectors of industry were as follows: mining and quarrying increased by 60.34%, manufacturing increased by 41.84%, electricity, gas production and distribution increased by 25.27%, and water supply increased by 75.4%.
Examination of the annual changes in the main industrial groups shows an increase of 36.96% in intermediate goods, 49.78% in durable consumer goods, 55.41% in non-durable consumer goods, 31.09% in energy, and 40.06% in capital goods.
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