February witnesses a considerable drop in Turkey’s yearly inflation to 55.18%

Official data showed a slight drop in annual inflation today, Friday in Turkey to 55.18% in February, lower than expectations, in the wake of the strong earthquakes that hit the southeast of the country and killed more than 45,000 people less than a month ago.

Turkish Statistical Institute said consumer prices rose 3.15% month-on-month, which is less than expected in a poll conducted by “Reuters” to increase by 3.4%. Consumer price inflation was expected at 55.5% year-on-year.

The national producer price index rose 1.56% month-on-month in February, an annual increase of 76.61%.