Turkish annual inflation falls to 61.78% in July, just below forecasts
ISTANBUL, Aug 5 (Reuters) -Turkish annual consumer price inflation dropped to 61.78% in July, official data showed on Monday, just below expectations and driven by rises in education, housing and hotel prices.
Month-on-month, Julyconsumer price inflation (CPI) was 3.23%, also below expectations,according to the Turkish Statistical Institute. In June, monthly CPI inflation was 1.64%, with the annual rate at 71.60%.
In a Reuters poll, economists forecast that annual inflation would fall to 62.1% in July, with monthly inflation seen rising to 3.45%. Annual inflation was expected to fall to 42.2% by the end of 2024.
The domestic producer price index was up 1.94% month-on-month in July for an annual rise of 41.37%,the data showed.
Reporting by Canan Sevgili;
Writing by Daren Butler;
Editing by Ezgi Erkoyun
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