According to TUIK data, inflation increased by 9.09 percent on a monthly basis in August and became 58.94 percent on an annual basis. While the economists' expectation for an increase was 7.32 percent monthly, it was 56.37 percent annually.
TURKSTAT announced the Consumer Price Index (CPI) data for August. In August 2023, the change in CPI was 9.09% compared to the previous month, 43.06% compared to December of the previous year, 58.94% compared to the same month of the previous year and 56.28% according to the twelve-month averages.
The main group that showed the least increase compared to the same month of the previous year was housing with 24.97%. On the other hand, the main group with the highest increase compared to the same month of the previous year was restaurants and hotels with 89.31%.
In terms of main expenditure groups, the main group that showed the least increase in August 2023 compared to the previous month was education with 3.11%.
As of August 2023, out of 143 main headings covered in the index, the index of 1 main heading decreased, while the index of 4 main headings remained unchanged. There was an increase in the index of 138 main titles.
The change in CPI excluding unprocessed food products, energy, alcoholic beverages and tobacco and gold, in August 2023 compared to the previous month; 9.32%, 47.21% compared to December of the previous year, 63.52% compared to the same month of the previous year and 57.77% according to the twelve-month averages.