Istanbul Feb Cpı Up 0.38% On Month, Ppı Up 1.62%
Consumer prices in Istanbul, Turkey's largest city, increased 0.38% on the month in February, compared with a 2.59% rise in January, the Istanbul Chamber of Commerce, or ITO, said Monday.
The producer price index increased 1.62% in February on the month, the ITO noted.
On the year, inflation in Istanbul accelerated to 12.27% in February from 11.93% in January, the ITO said. The producer price index rose by 8.52% the on year, it added.
Although the ITO calculates its data in a different way from the official Turkish Statistics Institute, or TUIK, the chamber's data are considered a good indicator of the national trend, as Istanbul is the country's financial capital.
In the Feb. 22 central bank survey, the average year-end national inflation rate forecast was 7.55%, higher than a previous forecast of 7.50%.
Monthly inflation expectations for February were pegged at 0.75%, the survey said, lower than the previous forecast of 0.80%.
TUIK is due to publish February national inflation data at 1500 GMT Wednesday.
(SB-SB-ENG)