Turkish February inflation hits six-month high on annual basis

ANKARA

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Turkey’s inflation rose 0.43 percent in February, hitting its highest rate in six months on an annual basis, official data has shown.

According to figures released by the Turkish Statistical Institute (TÜİK), the consumer price index (CPI) in the country rose 7.89 compared to the same month last year, while displaying a 0.43 percent increase from January.

In terms of consumer prices, the highest annual increase was recorded at 12.68 percent in the transportation sector, the TÜİK data showed.

Meanwhile, the Domestic Producer Price Index (D-PPI), which indicates the price change of the industrial products that were sold to producers in the domestic market, also increased 1.38 percent, indicating mounting production costs for local manufacturers.

The highest rates of monthly increase in the D-PPI according to subdivisions of industry were indices for other manufactured goods at 3.72 percent, coke and refined petroleum products at 3.08 percent and motor vehicles at 2.93 percent.