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Turkish Institute of Statistics announces … "August because of the effect of the collapse of the price of the read"
50 euro banknotes and 100 Turkish lira notes [dpa=연합뉴스 자료사진]
(ISTANBUL-Yonhap correspondence) HAYEJIM = Turkey's annual inflation as a result of the fall in the value of the currency in August this year is on the rise for the fifth consecutive month of high prices.
The National Statistical Office (NSO) said Wednesday that its inflation rate was 25.24% last month.
This is the highest level since the introduction of the current price index method since October 2003. The monthly annual inflation beat the "best" record for five consecutive months since June of this year.
Turkey's annual inflation rate was doubled in April: 10.85%, 15 May 15.15%, 15.39% June, 15.85% July, 17.90% August and 24.52%. % september.
The sectors that increased the most in the last year were respectively 37.92% and 32% for furniture and appliances and transportation.
Prices of food and non-alcoholic beverages also increased to 29.26%, putting pressure on households.
The monthly inflation rate was 2.67%. It is below 6.3% in September but remains high.
Turks observing a market in a market in Istanbul [EPA=연합뉴스 자료사진]
However, the growth rate of annual inflation was 0.7 points higher than last month.
Turkey's central bank is estimated to have raised interest rates by 625 basis points (6.25%) at the same time in September and started capturing prices. The exchange rate of the US dollar should stabilize quickly.
The exchange rate of the US dollar rose to 7.24 lira in mid-August due to the recent deterioration of relations with the United States, which stabilized at 5.4 lire.
The Turkish government lowered tariffs on furniture, appliances and automobiles last month to lower the price of freshly brewed products following the fall of the Turkish lira.
At the end of last month, the Central Bank of Turkey had presented its annual inflation forecast at 23.5%.
2018/11/05 18:01 Songwon
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