Inflation in Turkiye slowed to 52 percent in August

By Alimat Aliyeva

Consumer prices in Turkiye increased by 52% year-on-year in August, Azernews reports.

The pace of recovery has slowed for the third month in a row. In July, inflation was 61.8%. The August pace of price increases is the lowest since July last year.

Analysts on average predicted that prices would rise by 52.2%, according to Trading Economics. Last month, food and non-alcoholic beverages rose in price by 44.9% (in July - by 58.9%), transport services - by 29% (by 46.1%).

Meanwhile, the growth rate of utility costs accelerated to 101.5% from 98.5% in July. Core inflation, which does not take into account the cost of food, energy, alcohol, tobacco products and gold, amounted to 51.6% year-on-year last month, which is the lowest since June 2023. In July, it was at 60.2%.