Turkey CPI October 2007

According to data from Turkstat the rise in general index was realised in the 2003=100 based Consumer Price Index on the previous month by 1,81%, on December of the previous year by 6,08%, on same month of the previous year by 7,70% and on the twelve months moving averages basis by 8,98% in October 2007.





The highest monthly increase was in the index for clothing and footwear by main expenditure groups.

The highest monthly increase was 8,22% in the index for clothing and footwear by main expenditure groups. The indices rose for food and non-alcoholic beverages 3,41%, for hotels, cafes and restaurants 1,54%, for miscellaneous goods and services 1,02%, for housing 0,65%, for recreation and culture 0,26%, for furnishings and household equipment 0,25%, for health 0,07% while the indices declined for communication -0,02%, for education -0,19%, for transportation -0,41%. The index for alcoholic beverages and tobacco remained unchanged.

The highest annual increase was in the index for food and non-alcoholic beverages.

The highest increase was 14,71% in the index for food and non-alcoholic beverages compared with the same month of the previous year. Alcoholic beverages and tobacco (10,06%), hotels, cafes and restaurants (9,73%), housing (8,30%), for education (6,07%) were the other indices where high increases were realised.

Turkey Producer Prices October 2007

according to data released by Turkstat at the end of last week, the annual rate of increase in Turkish producer prices dropped back slightly in October. The monthly change in PPI from September was -0.13%, and when compared with October 2006 the index rose by 4.41%.



As can be seen in the chart the year on year rate of increase has dropped back strongly since March, and despite the small surge in August and September this months data do seem to indicate that the disinflationary process is once more working.

As we know from the CPI the price of foodstuffs is a continuing problem in Turkey (as elsewhere) and this finds its reflection in the PPI for agriculture which increased 14.83% compared with December 2006, and by 13.50% as compared with October 2006. The industry PPI increased 2.63% compared with December 2006 and by 2.38% as compared with October 2006.

The highest monthly increase in the PPI for industrial activities was the 7.51% registered in the index for crude petroleum and natural gas production.

There were increases 3,82% in the index for mining and stone quarrying, 0,11% in the index for manufacturing industry and a decrease -8,94% in the index for electricity, gas and water by sub-sections of industry.