Turkish Consumer Price Inflation, Producer Prices Surge

Turkey’s consumer price inflation accelerated sharply and producer prices surged in December, figures from the Turkish Statistical Institute showed on Monday.

The consumer prices index rose 36.08 percent year-on-year in December, following a 21.31 percent increase in November. Economists had expected a growth of 30.6 percent.

Transportation costs jumped 53.66 percent yearly in December and prices for food and non-alcoholic beverages soared 43.8 percent.

Prices for furnishings and household equipment, and hotels, cafes and restaurants gained by 40.95 percent and 40.85 percent, respectively.

On a monthly basis, consumer prices rose 13.58 percent in December. Economists had forecast an increase of 9.00 percent.

The producer price index rose 79.89 percent annually in December, following an 54.62 percent increase in November.

Among the main industrial sectors, prices for the energy industry gained 122.76 percent yearly in December and those for intermediate goods surged 92.13 percent.

Prices for non-durable consumer goods and capital goods rose by 54.23 percent and 51.17 percent, respectively. Prices for durable consumer goods grew 46.16 percent.

On a month-on-month basis, producer prices increased 19.08 percent in December.

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