ECONOMY

Turkish price rises seen continuing this summer

turkish-price-rises-seen-continuing-this-summer

Turkey’s annual inflation soared to 17.53% in June, mainly driven by rising prices in transportation and household goods, according to official data published on Monday.

The country’s monthly inflation increased by 1.94% in the same month, the Turkish Statistical Institute revealed.

The highest annual price rise was reported in transportation and household goods, surging by 26.29% and 25.69% respectively.

Meanwhile, the producer price index rose by 4% month-on-month in June, making the annual increase 43%.

“The tranquillity that usually occurs in the summer months in inflation in Turkey will not happen this year,” said Atilla Yesilada, an analyst at GlobalSource Partners. [Xinhua]