According to the report, consumer prices increased by 2.58 percent in October, and annual inflation remained relatively flat at 29.77 percent. During this period, energy and unprocessed food prices came to the fore in the course of consumer inflation.
Energy prices continued their upward trend in recent months, increasing by 4.92 percent, led by rising fuel, solid fuel and bottled gas prices due to global developments.
In the unprocessed food group, fresh fruit and vegetable prices were decisive, with the impact of the transition from fields to greenhouses. On the other hand, the moderate course was maintained in non-energy and non-food groups.
While seasonally adjusted core goods prices continued their low course with the support of demand conditions, monthly services inflation, although it increased compared to September in line with the predictions, remained below the levels observed in previous months. Thus, the slowing trend in services inflation continued.
Producer prices increased by 1.65 percent in this period, and annual producer inflation did not show a significant change at 27.41 percent.
Contributions of energy, basic goods and food groups to inflation increased
According to the report, the annual rate of change of the B index was 28.46 percent with a decrease of 0.54 points, and the annual rate of change of the C index was 28.28 percent with a decrease of 0.42 points.
When the contributions to annual consumer inflation are examined, the contributions of the services and alcohol-tobacco-gold groups decreased by 0.44 and 0.13 points, respectively, compared to the previous month, while the contributions of the energy, basic goods, food and non-alcoholic beverages groups increased by 0.28, 0.25 and 0.08 points, respectively.
With seasonally adjusted data, the monthly increase in consumer prices increased compared to the previous month, depending on the outlook in food and energy prices. While monthly inflation remained unchanged in the B index compared to the previous month, it decreased slightly in the C index.
While price increases increased in services and processed food, which are among the groups that make up the B index, they weakened in basic goods.
Indicators monitored by the CBRT pointed out that the main trend of inflation in October was close to horizontal compared to the previous month. The indicators did not show a significant change at 1.8 percent on a three-month average basis, confirming the recent decline in the main trend.
While service prices increased by 0.99 percent in October, the group's annual inflation decreased by 1.09 points to 36.56 percent. During this period, annual inflation decreased in all subgroups.
While the monthly increase in rent was 2.55 percent, annual inflation continued its downward trend with 39.71 percent.
In the transportation subgroup, prices increased by 0.91 percent monthly. While the increases in bus and school bus fares stood out in this development, the decline in international passenger transportation fees by air limited this increase.
In the restaurants-hotels group, where the impact of demand conditions was also felt, monthly inflation slowed down significantly compared to previous months, at 0.47 percent.
While food and beverage service prices increased by 1.65 percent in this period, the decrease in accommodation service prices by 3.19 percent was effective in the moderate course in this group.
While communication prices remained flat in October, monthly price increases in other services groups also slowed down.
Prices of basic goods groups increased
Prices of the core goods group increased by 3.92 percent in October due to seasonal effects, and the group's annual inflation increased by 0.80 points to 16.70 percent. While annual inflation remained relatively flat in clothing, shoes and durable goods, it declined in other core goods.
With the new season, clothing and shoe prices increased by 12.75 percent, close to the same month last year.
Monthly inflation in consumer durables and other core goods remained moderate at 0.94 percent and 0.31 percent, respectively.
In this period, in the durable consumer goods group, prices of white goods stood out with an increase of 2.70 percent, and prices of other electrical and non-electrical appliances increased by 1.99 percent.
On the other hand, while automobile prices increased moderately by 0.71 percent, a decrease of 0.61 percent was observed in the furniture group.
Energy prices continued their rise
Energy prices increased by 4.92 percent in October, and the group's annual inflation increased by 5.26 points to 51.37 percent.
In this development, rising fuel oil, bottled gas and solid fuel prices came to the fore due to the impact of global developments. The price increases in these items were 6.38 percent, 8.25 percent and 17.13 percent, respectively.
On the other hand, electricity prices for residences followed a nearly horizontal course.
Prices of food and non-alcoholic beverages increased
Food and non-alcoholic beverage prices increased by 3.50 percent on a monthly basis, and the group's annual inflation increased by 0.11 points to 27.73 percent.
Annual inflation increased by 1.80 points to 25.95 percent in unprocessed food, while it decreased by 1.08 points to 29.25 percent in processed food.
Unprocessed food prices increased by 6.04 percent on a monthly basis. Increasing prices of fresh fruits and vegetables due to the transition from fields to greenhouses were decisive in this development. During this period, the upward trend in white meat prices continued.
While monthly inflation of processed food increased slightly to 1.66 percent, price increases in coffee and tea products continued in this subgroup. The price increase in bread and grains was moderate at 0.90 percent.
Domestic producer prices increased
Domestic producer prices increased by 1.65 percent in October, and annual producer inflation remained relatively flat at 27.41 percent.
When examined according to main industrial groups, intermediate goods prices stood out with an increase of 2.00 percent. While the prices of non-durable consumer goods increased by 1.74 percent, the increases in other main industrial groups were in the range of 0.9-1.3 percent.
By sectors, price increases in crude oil and natural gas, clothing, leather and related products, coal and lignite, and coke and refined petroleum products came to the fore.
