Turkey's annual inflation was 17.90 percent in August, the Turkish Statistical Institute (TurkStat) announced Monday.

The annual inflation rate in July was 15.85 percent.

On a yearly basis, the biggest price hike was in transportation services in August -- up at 27.13 percent -- and in furnishing and household equipment at 23.76 percent.

According to TurkStat, inflation was 23.33 percent in "miscellaneous goods and services", 19.75 percent in food and non-alcoholic beverages, and 16.30 percent in housing prices.

Erdoğan proposes to trade without US dollar International trade's dependency on the U.S. dollar should be decreased as it became an obstacle for Turkey says Turkish President Recep Tayyip Erdoğan on Monday.Erdoğan attended the 6th Summit of Turkic Council at Rukh Ordo Cultural Center in Kyrgyzstan, where he said, "We are proposing to trade in our own currencies rather than U.S. dollar"Turkish leader separately said that events proved Turkey and its friends shouldn't delay fighting the Fetullah Terrorist Organization (FETO).FETO and its U.S.-based leader Fetullah Gulen orchestrated the defeated coup of July 15, 2016, which left 251 people martyred and nearly 2,200 injured.Ankara also accuses FETO of being behind a long-running campaign to overthrow the state through the infiltration of Turkish institutions, particularly the military, police, and judiciary.Erdogan added that this terrorist organization has organized themselves over educational institutions worldwide as it did in Turkey.The summit is hosted by Kyrgyzstan's President Sooronbay Jeenbekov at Rukh Ordo Cultural Center.In addition to presidents of Turkey, Azerbaijan, Kazakhstan and Uzbekistan, Hungary as an observer state has been represented by its prime minister.Turkish first lady opens cultural center in KyrgyzstanErdoğan: Turkey committed to strengthen judiciaryTurkey to save ties with Kyrgyzstan from shadow of FETÖKyrgyzstan invites Turkish investors

On a monthly basis, the consumer prices rose by 2.30 percent in August, as the highest monthly increase was 5.85 percent in "miscellaneous goods and services".

TurkStat said clothing and footwear prices saw a 1.59 percent drop in August.

Official data showed that tomato sauce, egg and watermelon were the top three items with the biggest price hikes in August while the price of onion, carrot and tomato saw the biggest drop.

"In August 2018 within average prices of 407 items in the index, average prices of 44 items remained unchanged while average prices of 304 items increased and average prices of 59 items decreased," the institute added.

Turkey’s central bank to support price stability The Central Bank of the Republic of Turkey (CBRT) on Monday announced that the bank will continue to use all available instruments in pursuit of the price stability objective."The Central Bank will take the necessary actions to support price stability," the bank said.The announcement came following the release of the inflation report for August by the country's statistical authority TurkStat.According to TurkStat, consumer prices in Turkey rose 17.90 percent on a yearly basis last month while the annual inflation was 15.85 percent in July.Turkey's central bank independent, will take necessary steps: Fin minTurkey's manufacturing index at 46.4 points in August"Recent developments regarding the inflation outlook indicate significant risks to price stability," the CBRT said, adding:"Accordingly, in line with the previous communication, monetary stance will be adjusted at the September Monetary Policy Committee Meeting in view of the latest developments."At the bank's sixth Monetary Policy Committee meeting this year, on July 24, the CBRT kept its one-week repo rate -- also known as the bank's policy rate -- constant at 17.75 percent.According to the bank's schedule, the next three meetings are to be held on Sept. 13, Oct. 25, and Dec. 13.