UPDATE 2-Turkish Jan consumer inflation 8.17 pct y/y

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By Selcuk Gokoluk

ANKARA, Feb 4 (Reuters) - Turkey's consumer prices rose a lower-than-expected 0.80 percent in January for an annual rise of 8.17 percent, data showed on Monday, and analysts said the numbers supported the case for another 25 basis point rate cut this month.

The Central Bank has cut rates five times since September -- unwinding some of the growth-stifling hikes from mid-2006 -- and the January figures were seen as a key guide to further easing.

The Turkish Statistics Institute also said the producer price index rose 0.42 percent in the month for an annual rise of 6.44 percent. In a Reuters poll, the median CPI inflation forecast was for a 1.11 percent month-on-month rise -- with a range of 0.85 percent to 1.43 percent -- while the PPI was seen rising 1.00 percent.

Economists and the inflation-targeting Central Bank had expected a high figure for January after the government raised electricity prices by 15 percent for households and 10 percent for industry in January and raised gas prices 7.4 percent for households and 6.5 percent for industry.

Core inflation, excluding unprocessed food, energy, alcohol, tobacco and gold, fell 0.53 percent on the month for an annual rise of 6.39 percent.

"The underlying disinflation looks strong, service price inflation is going down, rent inflation is the lowest in many years, the core inflation is negative," said Yarkin Cebeci, economist at JP Morgan Chase, adding he was still expecting a 25 basis point cut from the Central Bank on Feb. 14.

"It shows there's no fundamental worsening in the disinflation trend," he said.