(MENAFN) The Turkish Statistical Institute (TurkStat) disclosed on Monday that Turkey's annual inflation rate climbed to 67.07 percent in February, marking a noticeable uptick from the 64.86 percent recorded in January. The data provided by TurkStat shed light on various sectors, revealing that clothing and footwear experienced the lowest annual price increase at 43.44 percent, whereas hotels, cafes, and restaurants registered the highest increase at 94.78 percent.

The monthly inflation rate for February stood at 4.53 percent, while the 12-month rolling inflation rate was calculated at 55.91 percent. These figures depict the continued pressure on prices across various sectors of the Turkish economy, indicating the challenges faced in managing inflationary trends.

Notably, a survey conducted by a Turkish news agency the previous week had projected the annual inflation rate to be slightly lower, at 66.39 percent, with a monthly increase of 4.04 percent for February. However, the actual data released by TurkStat surpassed these estimates, underlining the persistently high inflationary pressures impacting the Turkish economy. As inflation remains a significant economic concern, policymakers and analysts continue to closely monitor these trends and explore strategies to mitigate their adverse effects on the economy and consumers.

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