Inflation remains at 19-year high

Turkey saw a 48.69% annual hike in consumer prices in January, according to the Turkish Statistical Institute (TurkStat).

Thus, the figure hit a 19-year high last month. 

The annual inflation was 36.08% in the previous month, according to TurkStat.

The highest annual price increase last month was seen in transportation with 68.89%, followed by food and non-alcoholic beverage (55.61%) and furnishings and household equipment (54.53%).

The lowest annual increases were posted by communication with 10.76%, education with 18.67%, clothing and footwear with 25.32%.

The monthly inflation rate was 11.10% in January.

The highest monthly increase was 21.90% in alcoholic beverages and tobacco among the main groups, while clothing and footwear posted negative inflation — minus 0.24%.

The domestic producer price index (D-PPI) also jumped 93.53% in January compared to the same month of the previous year, according to TurkStat.

D-PPI climbed by 10.45% on a monthly basis.

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