ISTANBUL (Reuters) – Turkey’s consumer price inflation fell to a lower-than-expected 11.76% year-on-year in July, the Turkish Statistical Institute said on Tuesday, reversing two months of rising inflation as the economy continued to emerge from lockdown.
Month-on-month, consumer prices rose 0.58% in July, compared to a Reuters poll forecast of 0.9%. The poll saw annual inflation at 12.10% in July, after it rose to 12.62% in June.
The producer price index rose 1.02% month-on-month in July for an annual rise of 8.33%, the data showed.
(This story corrects to say two months of rising inflation in first paragraph)
(Reporting by Daren Butler; Editing by Dominic Evans)
