Türkiye’s annual inflation rate decreased slightly to 32.95% in August from 33.52% in July, according to data released by the Turkish Statistical Institute on Wednesday.
The monthly inflation rate was 2.04% in August, showing only a marginal improvement from July’s 2.06% figure. The latest monthly reading came in above market expectations of 1.8%.
The annual inflation figure of 32.95% also exceeded analyst forecasts, which had projected a rate of 32.6% for August.
On the producer side, the domestic producer price index increased by 2.48% month-on-month in August, resulting in an annual rise of 25.16%.
