Published On: Mon, Mar 4th, 2019

Turkish Statistical Institute announces annual inflation as 19.67 percent

Turkish Statistical Institute announces annual inflation as 19.67 percent

Inflation figures circulated by Turkey Statistical Institute (TSI) for February 2019 were not very pleasing for the administration. TSI announced that the economy had incurred an inflation of 19.67 percent year-on-year. The inflation figure for February on the other hand was recorded at 0.16 percent.

Consumer prices rose by 0.16 percent in February compared to the previous month, with annual inflation of 19.67 percent. Following the announcement of the inflation data, the dollar went down to 5.37 liras, the euro went down to 6.11 liras and the pound went down to 7.11 liras.

According to TURKSTAT data, percentage of increases in some main expenditure groups were as follows: Health 2.48, education 1.64, food and non-alcoholic beverages 0.9, restaurants and hotels 0.87, transportation 0.71,

The domestic producer price index on the other hand rose by 0.09 percent in February and 29.59 percent year-on-year, and 29.97 percent on the twelve-month averages.

The highest monthly increase was observed in prices of the main pharmaceutical products and preparations with 7.37 percent, printing and recording services with 5.50 percent and coke and refined petroleum products with 4.84 percent.

On the other hand, electricity, gas production and distribution index went down by  7.43 percent, paper and paper products decreased by 1.68 percent  and computers and electronic and optical products by 1.66 percent.

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