Turkey annual inflation dips to 55.18% in February

ISTANBUL, March 3 (Reuters) - Turkish yearly ostentation fell somewhat to 55.18% successful February, authoritative information showed connected Friday, conscionable beneath forecast, pursuing monolithic earthquakes that deed its southeast portion and killed much than 45,000 radical conscionable nether a period ago.

Month-on-month, user prices roseate 3.15%, the Turkish Statistical Institute said, little than a Reuters canvass forecast of 3.4%. Annually, user terms ostentation <TRCPIY=ECI> was forecast to beryllium 55.5%.

The biggest monthly emergence successful prices was successful the nutrient and non-alcoholic drinks sector, which was up 7.36%, portion prices of acquisition and restaurants and hotels items climbed 5.69% and 4.07% respectively.

The statistic institute said prices from the tract were not collected from the earthquake-hit provinces of Gaziantep, Malatya and Hatay.

The home shaper terms scale was up 1.56% month-on-month successful February for an yearly emergence of 76.61%

The lira traded astatine 18.8920 aft the data, unchanged from its adjacent connected Thursday. The currency has been mostly level since the summertime owed mostly to authorities management.

Inflation has been stoked by a currency situation astatine the extremity of 2021 and deed a 24-year highest of 85.51% successful October. The cardinal slope chopped its argumentation complaint contempt soaring ostentation to sphere maturation momentum and added a further 50 ground constituent chopped pursuing the earthquake.

Economists and authorities officials expect the earthquake, which damaged hundreds of thousands of buildings, to outgo much than $50 cardinal lira and shave 1 to 2 percent points disconnected the country's economical maturation this year.