Lower food prices rein in inflation in June
In June, the consumer price index (CPI) dropped by 0.27 percent, compared with the previous month. Markets had expected a rise of 0.1 percent. Annual CPI, which had declined in May, fell to 10.9 percent in June. Food, transport and clothing groups pulled down inflation. In June, food prices declined by a monthly 1.1 percent, due to the decline in unprocessed food prices, mainly fresh fruit and vegetables. Food prices, which have the greatest weight in inflation basket, were the biggest factor in the CPI’s decline. Monthly transportation prices dropped by 0.84 percent, thanks to lower oil prices and a stable lira. Clothing and footwear prices declined due to seasonal factors.