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Turkey's inflation rose in July
(MENAFN) following a failed coup attempt, Turkey's consumer price inflation rose higher than expected in July, led by a surge in food prices that gained pace with a weaker lira.
In detail, the annual inflation rate was 8.79 per cent last month, compared with 7.64 per cent in June, Turkey's statistics institute said on Wednesday.
Moreover, the rate outpaced even the highest prediction of 8.5 per cent in a Bloomberg survey, and was significantly above the median estimate of 8.16 per cent.
After the botched takeover on July 15, central bank Governor Murat Cetinkaya warned of a temporary "marked" increase in annual inflation that would reverse later in the year.
In detail, the annual inflation rate was 8.79 per cent last month, compared with 7.64 per cent in June, Turkey's statistics institute said on Wednesday.
Moreover, the rate outpaced even the highest prediction of 8.5 per cent in a Bloomberg survey, and was significantly above the median estimate of 8.16 per cent.
After the botched takeover on July 15, central bank Governor Murat Cetinkaya warned of a temporary "marked" increase in annual inflation that would reverse later in the year.
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