Turkey’s TUIK announces inflation rate for August at 19.25 percent

TurkStat (Turkish Statistical Institute) has announced inflation rates. According to TUIK, inflation increased by 1.12 percent in August, while it was 19.25 percent year-on-year.

However, some experts and economists comment that the actual inflation rate is well above (30 percent) the figure shared by TUIK.

The dollar on the other hand has started the day with a rise. It is currently trading at TL 8.31 in the markets.

Downward trend since second week August

The dollar/TL, which has been on a downward trend since the second week of August, ended the day at 8.2625 from 8.2778, 0.2 percent below the previous close, after seeing a nearly 4-month low yesterday.

The dollar/TL is trading at 8,3110, up 0.4 percent from yesterday’s close at 09.50, as it began the day with a rise before the inflation data to be announced today. In the same minutes, the euro/TL rose 0.2 per cent to 9,8680 from its previous close, and the pound/TL rose 0.4 per cent to 11,4910.