Published On: Fri, Jan 3rd, 2020

Officials announce Turkey’s annual inflation for 2019 as 11.84 percent

Inflation in Turkey increases by 0.99 in March 2018 to exceed expectations

Annual inflation in Turkey was recorded at 11.84 percent in 2019. At a time when the cost of living has skyrocketed and salaries almost run out in the middle of the month after paying rent and bills, this figure is considered to be unclear how inflation has gone up at this level, only.

Inflation rose by 0.74 percent in December, compared to the previous month and 11.84 compared to December of the previous year.

The main groups where the increase was lower compared to the same month of the previous year were clothing and footwear with 4.53 percent, entertainment and culture with 7.03 percent and household goods with 9.79 percent respectively. In contrast, the main groups which incurred higher increase compared to the same month of the previous year were alcoholic beverages and tobacco with 43.12 percent, education with 14.46 percent, health and various goods and services with 13.63 percent.

Despite these official figures mainly calculated by TUIK (Turkish Statistical Institute) cost of living has gone up by 30-40 percent as experienced by citizens. No doubt the high price hikes in oil, natural oil and electricity have  had a strong impact on inflation increase.

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