UPDATE – Turkey: Annual inflation reaches 24.5 pct in September


By Tuba Sahin

ANKARA (AA) – Turkey's annual inflation reached 24.52 percent in September, the country's statistical authority revealed on Wednesday.

The figure in the month was up from 17.90 in August, Turkish Statistical Institute (TurkStat) reported.

On a yearly basis, the biggest price hike was in furnishing and household equipment in September — up at 37.28 percent — and in transportation at 36.61 percent.

According to TurkStat, inflation was 30.6 percent in "miscellaneous goods and services", 27.7 percent in food and non-alcoholic beverages, and 21.8 percent in housing prices.

On a monthly basis, the consumer prices rose by 6.30 percent in September, as the highest monthly increase was 11.4 percent in furnishing and household equipment.

Among the main expenditure groups, the lowest monthly increase was in alcoholic beverages and tobacco with a 0.07 percent rise, it added.

TurkStat said none of the main expenditure groups in September saw monthly decrease.

"In September 2018, within average prices of 407 items in the index, average prices of 50 items remained unchanged while average prices of 339 items increased and average prices of 18 items decreased," TurkStat.

According to the country's new economic program announced on Sept. 20, the inflation target for this year is 20.8 percent, 15.9 percent for next year, 9.8 percent for 2020, and 6 percent for 2021.