Turkish Statistics Institute (TURKSTAT) announces inflation figures for February 2023

TURKSTAT has announced the consumer price index (CPI) figures for Februray. According to the Turkish Statistical Institute (TURKSTAT), which has been strongly criticized for sharing unrealistic data, consumer prices increased by 3.15 percent in February and became 55.18 on an annual basis.

The change in the CPI was 3.15 percent in February compared to the previous month and 10 percent compared to the previous year’s December. It became 55.18 percent compared to the same month of the previous year and 71.83 percent compared to the twelve-month averages.

It is noteworthy that there is a big gap between figures announced by TURKSTAT and ENAG. The Inflation Research Group (ENAG) shares inflation figures it calculates, with the public every month.

ENAG: Annual inflation has increased to 126.91 percent

According to the data of the Inflation Research Group (ENAG) which is independently formed by academics and economists, inflation increased by 7.21 percent in February. Annual inflation was 126.91 percent.