Inflation in Turkey fell for the eighth consecutive month to 42.1% last January, according to the latest data released on Monday by the Turkish Statistical Institute (TÜİK), marking a decline of more than two points from the previous month’s year-on-year CPI figure, but still below analysts’ forecasts.
The report released today by TÜİK finds that prices in the Eurasian country rose by 42.12% in January compared to January 2024, having increased by 44.4% year-on-year in December; the main price increases were in education (99.93%), housing (68.90%) and health (55.02%), while the lowest again were recorded in transport (23.14%).
Compared with December, prices rose by 5.03% in January, according to the figures provided by Turkey’s official statistics agency, which, despite showing a further fall in inflation, gave results slightly higher than expected by economists, who on average had calculated that the year-on-year inflation rate in January would be 41.25%, and that the month-on-month rate would be around 4.31%.
After exceeding 75% in May last year, inflation in Turkey has been on a continued downward trend thanks largely to the high interest rate policies of the Central Bank of Turkey, which still announced its second rate cut in less than a month at the end of January citing good forecasts for core inflation.
VOTE
EDITORIAL TEAM
🧿 About us
.
Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
…
📣 Your ADVERTISING on Hispanatolia
.
🤗 HELP US WITH A DONATION:
💗 Paypal
