Turkey’s consumer price inflation increased for the third straight month in April, figures from the statistical office Turkstat showed Monday.
The consumer price index rose 7.91 percent year-over-year in April, faster than previous month’s 7.61 percent climb. Economists had expected a 7.60 percent increase for the month.
It was the highest rate of inflation since December last year, when prices had risen 8.17 percent.
Prices of food and non-alcoholic beverages surged 14.36 percent annually in April and utility costs advanced by 8.21 percent. Meanwhile, transport cots fell 0.52 percent
On a monthly basis, consumer prices went up 1.63 percent in April, surpassing economists’ expectations for a 1.3 percent hike.
Separately, the statistical office announced that producer price inflation accelerated further in April.
The domestic producer price index increased at a faster pace of 4.80 percent yearly in April, following a 3.41 percent rise in March. It was the second successive monthly climb.
Prices in the manufacturing sector grew 5.26 percent in April from a year ago, while mining and quarrying prices slid by 1.94 percent.
Month-on-month, producer prices moved up 1.43 percent in April.
The material has been provided by InstaForex Company – www.instaforex.com