ECONOMY

Turkey's annual inflation rate up in August

TURKEYS ANNUAL INFLATION RATE UP IN AUGUST

Turkey's annual inflation rate stood at 10.68 percent in August, the Turkish Statistical Institute (TurkStat) announced Tuesday.

Consumer prices rose by 0.89 points, up from 9.79 percent in July, according to TurkStat.

Monthly inflation rose 0.52 percent in August over the previous month.

On Monday, Anadolu Agency's Finance Desk's survey of 14 economists predicted an average 0.15 percent increase in the monthly rate and an annual rate of 10.27 percent.

The economists forecast year-end inflation of 9.38 percent.

TurkStat's report showed the highest monthly rise was in the education sector which saw a 2.79 percent increase in prices.

Transport prices rose 17.38 percent, making it the main reason for annual inflation.

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