Turkey’s inflation rises slightly in July

ANKARA

Turkey’s inflation rate for July rose by 0.31 percent from the previous month, official data released today by the Turkish Statistical Institute (TÜİK) showed.

The inflation showed an 8.8 percent increase last month from the same period a year earlier. The 12-month average inflation rate amounted to 7.47 percent as of July.

The highest monthly increase was 2.28 percent in transportation, but the prices of alcoholic beverages and tobacco products increased most on an annual basis with a 15.99 percent hike.

The highest monthly decrease was 4.68 percent in clothing and footwear.