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Türkiye’s Inflation Shows Slight Decline
(MENAFN) Türkiye’s yearly inflation rate reached 30.65% in January, slightly down from 30.89% in December, marking the fourth month in a row of decreasing inflation.
According to official statistics released by the Turkish Statistical Institute on Tuesday, the inflation rate has been steadily declining over the past 20 months, except for a single month.
This rate represents the smallest rise in consumer prices in Türkiye since November 2021, when the rate stood at 21.31%.
In January, the sectors with the steepest annual price increases included education at 64.7%, housing at 45.36%, and hotels, cafes, and restaurants at 33.31%.
Conversely, clothing and footwear experienced the smallest hikes at 7.07%, followed by communications at 20.09% and health at 21.63%.
On a month-to-month basis, consumer inflation in January was 4.84%.
Turkish Treasury and Finance Minister Mehmet Simsek mentioned on the Turkish social media platform Nsosyal that “food prices and seasonal factors had impacts on consumer prices in January.”
Simsek added that the government expects that “factors specific to January will have a limited impact on the underlying trend of inflation.”
According to official statistics released by the Turkish Statistical Institute on Tuesday, the inflation rate has been steadily declining over the past 20 months, except for a single month.
This rate represents the smallest rise in consumer prices in Türkiye since November 2021, when the rate stood at 21.31%.
In January, the sectors with the steepest annual price increases included education at 64.7%, housing at 45.36%, and hotels, cafes, and restaurants at 33.31%.
Conversely, clothing and footwear experienced the smallest hikes at 7.07%, followed by communications at 20.09% and health at 21.63%.
On a month-to-month basis, consumer inflation in January was 4.84%.
Turkish Treasury and Finance Minister Mehmet Simsek mentioned on the Turkish social media platform Nsosyal that “food prices and seasonal factors had impacts on consumer prices in January.”
Simsek added that the government expects that “factors specific to January will have a limited impact on the underlying trend of inflation.”
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