Turkish inflation accelerated to the highest level in more than a year in January, figures from Turkstat showed Wednesday.
Consumer price inflation rose to 9.58 percent in January from 8.81 percent in December. This was the highest since May 2014, when inflation was 9.66 percent. Economists had forecast inflation to rise to 9.5 percent.
Month-on-month, consumer prices gained 1.82 percent, slightly faster than an expected growth of 1.7 percent and 0.21 percent rise seen in December.
Another report showed that producer price inflation increased slightly in January. The domestic producer price index rose less-than-expected to 5.94 percent in January from 5.71 percent in December.
Prices were expected to climb 6.11 percent. Nonetheless, it was the fastest since September 2014, when prices gained 6.92 percent.
On a monthly basis, producer prices increased 0.55 percent in January, in line with expectations.
The material has been provided by InstaForex Company – www.instaforex.com