Turkish inflation falls below 52% in August, just under forecast
ISTANBUL, Sept 3 (Reuters) -Turkish annual consumer price inflation dropped to 51.97% in August, official data showed on Tuesday, just below expectations, declining due to base effects and lower food price rises.
Month-on-month, August consumer price inflation (CPI) was 2.47%, also below expectations,according to the Turkish Statistical Institute. In July, monthly CPI inflation was 3.23%, with the annual rate at 61.78%.
In a Reuters poll, annual inflation was forecast to fall to 52.2% in August. Month-on-month, inflation had been expected to be 2.64%. The poll forecast that annual inflation will be 42.95% at end-2024.
The domestic producer price index was up 1.68% month-on-month in August for an annual rise of 35.75%,the data showed.
Reporting by Canan Sevgili
Writing by Daren Butler;
Editing by Jonathan Spicer
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