Turkish February CPI comes in at 0.7% m/m

By bne IntelliNews March 3, 2015

Consumer prices rose 0.71% m/m in February, in line with market expectations, bringing the annual rate of inflation to 7.55% from 7.24% in January, data of the statistics office TUIK showed on March 3.

Food prices were up 2.59% m/m, adding 0.67 percentage points to the headline inflation, alcoholic beverages & tobacco prices fell 0.44% m/m shaving 0.02 percentage points. The decline in clothing prices was a sharp 6.58% m/m but transport costs rose 1.77% m/m adding another 0.29 percentage points to the February inflation. Communication prices increased 0.94% m/m, housing costs rose 0.46% m/m, data of TUIK also showed.

The core inflation, measured by the I-index, fell 0.14% m/m in February after rising 0.22% m/m in January. The annual increase in the I-index further eased to 7.73% from 8.63% in January.

TUIK also calculated that domestic producer prices rose 1.20% m/m in February, bringing the annual increase to 3.1% from 3.28% in January when domestic producer prices increased 0.33% m/m.

February CPI by Main Expenditure Groups (%)
	Weights	m/m	y/y
Headline	100	0.71	7.55
Food and non-alcoholic beverages	24.25	2.59	13.70
Alcoholic beverages and tobacco	4.82	-0.44	3.91
Clothing and footwear	7.38	-6.58	7.40
Housing, utilities	15.79	0.46	7.50
Furnishings, household equipment	7.78	0.23	7.37
Health	2.57	0.82	8.29
Transportation	15.38	1.77	-1.49
Communications	4.38	0.94	3.95
Recreation and culture	3.54	0.58	6.03
Education	2.53	-0.08	7.96
Hotels, cafes and restaurants	6.98	1.06	12.66
Miscellaneous goods and services	4.60	0.59	9.18
Source: tuik

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Turkish February CPI comes in at 0.7% m/m

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Turkish February CPI comes in at 0.7% m/m

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