Turkey's consumer inflation down in August

ANKARA (AA) - Turkey’s annual consumer price inflation rate has declined in August, official data from the Turkish Statistical Institute (TurkStat) revealed on Monday.

The annual inflation rate was 8.05 percent in August compared to 8.79 percent in July, significantly better than median estimate of inflation expectation survey held by Anadolu Agency Finance News.

The TurkStat report showed that on monthly basis the reading was also 0.29 point lower compared to July.

Alcoholic beverages and tobacco prices were the main driver of inflation as they were up 23.03 percent annually.

Annual inflation in food prices, was 6.19 percent, lower than the 9.69 percent recorded in July.