Özet:

The aim of this study is to test that food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and shoes, housing, water, electricity, gas and other fuels, furniture, household tools and household care services, health, transport, communication, entertainment and culture, education, restaurants and hotels and various goods and services are close to the general inflation rates. In this regard, the monthly inflation data covering the 2003:02 2019:03 periods have been applied to Kruse (2011) unit root test and Hepsağ (2019) unit root test, which takes into account structural breakdowns and linear excretion together. The empirical analysis found that the approximation hypothesis for any group of goods and services for the Kruse (2011) test did not apply, while the approximation hypothesis for any group of goods and services for the Hepsağ (2019) test found that only furniture, household equipment and household care services from 12 groups of goods and services were approximate to the overall inflation rate; that there was no approximation in other groups of goods and services. These findings conclude that monetary policies are not generally reflected in the prices of goods and services and that the policies are not successful.

Özet:

The purpose of this study is to test whether the inflation rates of the 12 goods and services group classified by the Turkish Statistical Institute (Food and Soft Drinks, Alcoholic Beverages and Tobacco, Clothing and Footwear, Housing, Water, Electricity, Gas and Other Fuels, Furniture, Home Appliances and Home Care Services, Health, Transport, Communication, Entertainment and Culture, Education, Restaurants and Hotels and Various Goods and Services), converge with general inflation rates. In line with this, the Kruse (2011) unit root test and the Hepsağ (2019) unit root test, which considers structural breaks and nonlinearity were applied to the monthly inflation data covering the periods 2003: 02 2019: 03. As a result of the empirical analysis, while the convergence hypothesis was not valid for the Kruse (2011) test for any of the goods and services groups; only Furniture, Home Appliances and Home Care Services converged with the general inflation rates out of the 12 goods and services groups; it is concluded that there is no convergence in other goods and service groups according to the Hepsağ (2019) test. According to these results, it is concluded that the monetary policies applied are not reflected in the prices of goods and services in general and the policies implemented are not successful. 

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