Consumer Prices Rose by 1.84 Percent Monthly in August
According to data released by TÜİK, consumer prices increased by 1.84 percent on a monthly basis in August, while annual inflation reached 31.51 percent. The domestic producer price index was announced as 27.95 percent annually.
The Turkish Statistical Institute announced the August inflation data. Accordingly, the consumer price index increased by 1.84 percent monthly, and annual consumer inflation became 31.51 percent. The domestic producer price index registered an increase of 2.57 percent monthly and 27.95 percent annually.
Monthly and Annual Change in Consumer Prices
According to the data announced by the Turkish Statistical Institute, the consumer price index rose by 1.84 percent in August compared to the previous month. On an annual basis, consumer inflation stood at 31.51 percent.
Rent Increase Rate and Legal Calculation
The legal ceiling rent increase rate, calculated based on twelve-month moving averages of consumer inflation, was recorded at 31.79 percent. This rate serves as the basis for increases to be made in residences and workplaces.
Annual Impacts of Main Expenditure Groups
Among the main expenditure groups with the highest weight, food and non-alcoholic beverages increased by an annual 33.79 percent, transportation by 35.08 percent, and the housing, water, electricity, gas, and other fuels group by 39.77 percent.
Sectors Driving Monthly Inflation
In August, the highest monthly increase among main expenditure groups was seen in the education group with 8.62 percent. While prices increased in alcoholic beverages and tobacco, a decline was experienced in the clothing and footwear group.
Developments in the Producer Price Index
The domestic producer price index increased by 2.57 percent in August compared to the previous month. Domestic producer inflation stood at 27.95 percent compared to the same period of the previous year.