Turkey's annual inflation at 17.90 pct in August

By Muhammed Ali Gurtas

ANKARA

Turkey's annual inflation was 17.90 percent in August, the Turkish Statistical Institute (TurkStat) announced Monday.

The annual inflation rate in July was 15.85 percent.

On a yearly basis, the biggest price hike was in transportation services in August -- up at 27.13 percent -- and in furnishing and household equipment at 23.76 percent.

According to TurkStat, inflation was 23.33 percent in "miscellaneous goods and services", 19.75 percent in food and non-alcoholic beverages, and 16.30 percent in housing prices.

On a monthly basis, the consumer prices rose by 2.30 percent in August, as the highest monthly increase was 5.85 percent in "miscellaneous goods and services".

TurkStat said clothing and footwear prices saw a 1.59 percent drop in August.

Official data showed that tomato sauce, egg and watermelon were the top three items with the biggest price hikes in August while the price of onion, carrot and tomato saw the biggest drop.

"In August 2018 within average prices of 407 items in the index, average prices of 44 items remained unchanged while average prices of 304 items increased and average prices of 59 items decreased," the institute added.

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