Turkey inflation slows

CNC
Added On August 7, 2017

Latest data showed that Turkey's consumer price index (CPI), a main gauge of inflation, rose 9.79 percent in July year on year, the lowest growth rate in last six months.
 
According to the Turkish Statistical Institute, the rate registered a decline from June's reading of 10.9 percent. 
 
Transportation saw the highest year-on-year growth at about 15.2 percent, followed by food and non-alcoholic beverages, health, recreation and culture, and hotels and restaurants category.
 
Due to sharp currency devolution and structure problem, Turkey's economy has seen serious inflationary stress since 2016. 
 
The central bank forecasts the year-end inflation rate would be 8.7 percent.