Türkiye's annual inflation slows to 13-month low in August

By Tuba Ongun

Türkiye's annual consumer inflation rate eased to 51.97% in August, the lowest since July 2023, according to official data released on Tuesday.

Dropped for the third consecutive month from 61.78% in July, the headline inflation came in below market forecast, TurkStat data showed.

Education continued to post the largest annual hike with 120% in August while transportation saw the lowest rise with 28.96%.

Inflation, excluding energy, food and non-alcoholic beverages, alcoholic beverages and tobacco, decreased to 51.65% in August.

On a monthly basis, consumer prices index rose 2.47% in August, slowing from July's 3.23%.

An Anadolu survey on Friday projected the August inflation at 55.2% on a yearly and 2.64% on a monthly basis.