Turkish annual inflation falls to 11.76% in July

People shop at a food market in Istanbul, Turkey, February 11, 2019. REUTERS/Murad Sezer

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SULAIMANI — Turkey’s consumer price inflation fell to a lower-than-expected 11.76% year-on-year in July, the Turkish Statistical Institute said on Tuesday (August 4), reversing two months of rising inflation as the economy continued to emerge from lockdown.

Month-on-month, consumer prices rose 0.58% in July, compared to a Reuters poll forecast of 0.9%. The poll saw annual inflation at 12.10% in July, after it rose to 12.62% in June.

The producer price index rose 1.02% month-on-month in July for an annual rise of 8.33%, the data showed.

(NRT Digital Media/ Reuters)