Turkey’s inflation figures announced by TURKSTAT

TURKSTAT announced that annual inflation had risen to 48.69 percent in January 2022. This was the highest level in the last 20 years. The rate was announced as 36.08 percent in December. ENAG, on the other hand, calculated inflation at 114.87 percent. The forecast of economists for inflation was 48 percent in a Bloomberg poll and 46.68 percent in a Reuters poll.

The Turkish Statistical Institute (TURKSTAT) announced that the annual consumer inflation, which was 36.06 percent in December, had increased to 48.69 percent.

The consumer price index (CPI) increased by 11.10 percent in January compared to the previous month and by 22.58 percent compared to the twelve-month average.

THE LARGEST INCREASE IN ANNUAL TRANSPORTATION

The lowest annual increase was in the communications main group with 10.76 percent. The other main groups where the increase was lower compared to the same month of the previous year were education with 18.67 percent, clothing and footwear with 25.32 percent and health with 28.63 percent, respectively.

In contrast, the main groups with a high increase compared to the same month last year were transport with 68.89 percent, food and soft drinks with 55.61 percent, household goods with 54.53 percent, respectively.

The main groups with a high increase in January 2022 were alcoholic beverages and tobacco with 21.90 percent, housing with 18.91 percent, household goods with 12.82 percent, respectively.