Turkey’s consumer price inflation decreased for the third consecutive month in August, reaching its lowest point in just over a year, according to data released by the Turkish Statistical Institute on Tuesday.The consumer price index (CPI) saw a year-over-year increase of 51.97% in August, a significant slowdown from the 61.78% rise recorded in July.This marks the weakest inflation rate since July 2023, when the CPI had increased by 47.83%.In terms of specific categories, annual price growth in food and non-alcoholic beverages reduced to 44.88%, down from 58.91%. Similarly, the inflation rate in the transportation sector dropped sharply to 28.96% from 46.1%.On a monthly basis, consumer prices rose by 2.47% in August, following a 3.23% increase in June.Additional data from the statistical office indicated that producer price inflation also declined to a 39-month low of 35.75% in August, down from 47.55% in the previous month. Monthly, producer prices increased by 1.68%, compared to a 1.94% rise in July.The material has been provided by InstaForex Company – www.instaforex.com
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