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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