Tridge summary
The Central Bank of Turkey reports that consumer prices rose by 1.12% in August, contributing to an annual inflation rate of 19.25%. The increase was largely due to higher food prices, although core inflation indicators experienced a slight decrease. The rise in durable goods prices was moderate, driven by the Turkish lira and regulations on automobile prices. However, energy prices, including fuel and LPG, also increased, despite the effect of the scale mobile system on inflation. The inflation rates for indicators B and C declined slightly, but high near-term trends were maintained. The restaurant-hotel group saw the highest annual inflation, while the effect of the Turkish lira on maintenance and repair services helped decrease annual inflation in other services. Annual core goods inflation decreased to 20.28%, with variations in different categories.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In the August Monthly Price Developments Report announced by the Central Bank of the Republic of Turkey (CBRT), it was stated that the increase in food prices was the determinant of the increase in inflation. In addition, it was pointed out that annual inflation slowed down in core inflation indicators. The report said: "Consumer prices increased by 1.12 percent in August, and annual inflation reached 19.25 percent with an increase of 0.30 points. While the upward trend in food prices was the determining factor in this development, the annual inflation of core inflation indicators slowed down. While the effect of fresh fruit and vegetable prices on the rise in inflation was evident, the agricultural drought, which was effective in the world and in our country, adversely affected consumer food prices.In this period, durable goods prices followed a moderate course due to the recent outlook in the Turkish lira and the regulation of the SCT base increase in automobiles. As a result, ...
Source: Haber7
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