Prices in Turkey fell for the third consecutive month in January, when year-on-year inflation fell to 57.7% after registering 85.5% last October, the highest in the last 24 years, forcing the government to raise the minimum wage again by 55%. Economists attribute the decline in the CPI to the fall in the price of energy imports, mainly natural gas. Compared to January 2021, the largest year-on-year increase in prices was registered in health (77.22%), followed by food (71%), housing (56.24%), alcoholic beverages and tobacco (50.6% ), clothing and footwear (24.24%), hotels and restaurants (12.73%) and transportation (6.29%).
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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.
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