Annual Inflation Falls Back to Single Digit Level in July

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Turkish Statistical Institute (TÜİK) has announced inflation rates of July.

According to TÜİK’s stats, inflation rate hikes by 0.15% compared to last month; 9.79% in July 2017 compared to the same month of last year in consumer prices.

Highest monthly hike

Highest monthly increase was seen in the group of restaurants and hotels with 1.75%.

Entertainment and cultures marked 1.36% of increase; transportation 1.13%; education 1.05% and household goods 0.63%.

Highest monthly drop

Highest monthly drop was seen in the group of clothing and shoe with 3.51%.

The other group which marked a decrease was food and non-alcoholic drinks with 0.71%.

Yearly highest hike

Yearly highest hike was seen in the group of transportation with 15.24%.

The other main spending groups which saw a high inflation rate hike compared to the same month of last year were alcoholic drinks and tobacco with 14.14%; health with 11.89%; entertainment and culture with 11.22%; restaurants and hotels with 10.84%. (YY/TK)