HOW DID THE TCMB INTERPRET THE PRICE INCREASE FOR TOURISM?

Turkey’s central bank CBRT (TCMB) made an assessment on the tourism sector in August Price Developments.

What is inflation in service prices?

Prices of services rose by 1.25 percent in August, and the group’s annual inflation increased by 0.13 points to 13.88 percent.

While annual inflation increased in restaurants-hotels, communication services and rents, it remained flat in transportation services and decreased in other services.

Do high price increases in tourism continue?

In the restaurant-hotel subgroup, the high price increases that followed the opening continued in August as well.

While the negative outlook in food prices was also effective in the increase in catering services prices (2.20 percent), hotel prices continued to be the determinant in the increase in accommodation services prices (3.31 percent)

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