Inflation in Turkey accelerated to 17.9% in August

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Consumer prices in Turkey rose in August 2018 by 17.9% in annual terms, noting the maximum growth since September 2003, according to official data. Compared with the price increase of 15.85% in the previous month, inflation accelerated sharply in August. Analysts had expected inflation at the level of 17.6%. As the Central Bank of Turkey reported on Monday, it is ready at its meeting on September 13 to adjust monetary policy in order to contain the risks associated with inflation. Thanks to the statements of the Central Bank, the Turkish lira slowed down its fall against the US dollar from more than 2% to 0.3%. Compared to July, consumer prices rose by 2.3% in August after rising by 0.55%. Energy prices went up in annual terms by 21.34%, food products - by 19.75%. Tariffs for transportation services increased by 27.1%. Producer prices jumped by more than 32%.

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