Inflation falls as prices increase in Turkey, according to Turkstat

Turkish Statistical Institute controversially announced that annual inflation has fallen to 9.26 in September as the prices of daily needs have highly increased in the country
Friday, 04 October 2019 13:59

According to TurkStat, the highest price increase in September has been in housing with 2.5 percent in Turkey. Clothing and footwear come in second with 2.13 percent, miscellaneous goods and services follow them with 2.09 percent and alcoholic beverages and tobacco with 1.79 percent.

The working people are facing high prices in markets as the prices of daily needs, electricity and natural gas have highly increased since last year.

HIGHEST ANNUAL INCREASE IN ALCOHOL AND TOBACCO

The highest annual increase in 2019 has been recorded in alcoholic beverages and tobacco with 43.86 percent. Alcohol and tobacco are followed by health with 15.41, by miscellaneous goods and services 14.98, by hotels, cafes, and restaurants with 14.87, and education with 14 percent.

As the TurkStat claims that the annual inflation has fallen to single digits for the first time since July 2017, economists suggest that these figures will not be kept at the same level.

“Don’t console yourselves,” economist Mustafa Sönmez said, adding that the increase in inflation will be observed again in November. Many experts share the thought that Turkey will not be able to see a similar picture at the end of the year, meaning it does not seem possible to have a single-digit inflation rate in the following months. 

“Today, the inflation will be announced in single digits. The real hero of this success is doubtlessly Berat Albayrak,” Murat Muratoğlu from Sözcü daily said, adding that Albayrak appointed his friend in the place of Murat Çetinoğlu, the former governor of Central Bank who was dismissed last year as the inflation was announced around 24.5 percent.