Economy in Turkey: TUIK announces monthly and annual inflation figures for September 2023

According to the Turkish Statistical Institute (TÜİK), the monthly inflation rate in September was 4.75%, and the annual inflation rate was 61.53%. However, the Independent “Inflation Research Group” (ENAG) calculated the monthly inflation in September as 6.24% and the annual inflation as 130.13%.

The Turkish Statistical Institute (TÜİK) has released the Consumer Price Index (CPI) data for September.

The change in the CPI in September 2023 compared to the previous month was 4.75%, compared to December of the previous year was 49.86%, compared to the same month of the previous year was 61.53%, and the twelve-month average change was 55.30%.

TÜİK had previously announced the monthly inflation rate for August as 9.09% and the annual inflation rate as 58.94%.

The Independent Inflation Research Group, composed of independent academics, calculated the monthly inflation rate in September as 6.24% and the annual inflation rate as 130.13%.

Economists’ average inflation forecast for September was 61.7% according to the Reuters survey and 61.9% according to the AA Finance survey.