Inflation in Türkiye sees its largest monthly jump since August

  • In January, Turkish inflation recorded its largest monthly jump since August, rising by 6.7% compared to December, while year-on-year inflation reached nearly 65%, according to Turkish Central Bank figures released on Monday. Monday.
  • The Consumer Price Index (CPI) for the country of 85 million people rose 64.86% annually, up slightly from 64.77% in December. The sectors that witnessed the largest monthly increase in prices were health by 17.7%, hotels, cafes and restaurants by 12%, and miscellaneous goods and services by a little more than 10%. The clothing and footwear sector was the only sector that showed a monthly price decrease of -1.61%.
  • Food, beverage and tobacco prices, as well as transportation, have risen approximately 5% to 7% month-on-month, while housing has risen 7.4% since December.

Turkish President Recep Erdogan addresses journalists during the final national press conference during the high-level NATO summit at the Litexpo Conference Center in Vilnius, Lithuania on July 12, 2023.

Dominica Zarzycka | norphoto | Getty Images

In January, Turkish inflation recorded its largest monthly jump since August, rising by 6.7% compared to December, while year-on-year inflation reached nearly 65%, according to Turkish Central Bank figures released on Monday. Monday.

The Consumer Price Index (CPI) for the country of 85 million people rose 64.86% annually, up slightly from 64.77% in December. The sectors that witnessed the largest monthly increase in prices were health by 17.7%, hotels, cafes and restaurants by 12%, and miscellaneous goods and services by a little more than 10%. The clothing and footwear sector was the only sector that showed a monthly price decrease of -1.61%.

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