Türkiye’s annual inflation climbed to 64.77 percent in December last year, according to official data published Wednesday.
According to the Turkish Statistical Institute, month-to-month inflation rose to 2.93 percent in December.
According to the data, the highest price increase in 2023 was in the restaurants and hotels sector with 93.24 percent. This was followed by education with 82.06 percent and health with 79.59 percent. Food inflation was 72.01 percent in 2023.
The Turkish government’s 2023 year-end inflation forecast in the Medium Term Program was 65 percent, while the year-end forecast was increased to this level in the last inflation report of the Turkish Central Bank.
In December, the Turkish Central Bank increased its policy rate by 250 basis points to 42.5 percent to curb the lira’s devaluation and tame the persistently high inflation. ■
A woman shops at a market in Ankara, Türkiye, Jan. 3, 2024.
Türkiye’s annual inflation climbed to 64.77 percent in December last year, according to official data published Wednesday.
According to the Turkish Statistical Institute, month-to-month inflation rose to 2.93 percent in December. (Mustafa Kaya/Handout via Xinhua)
A man shops at a market in Ankara, Türkiye, Jan. 3, 2024.
Türkiye’s annual inflation climbed to 64.77 percent in December last year, according to official data published Wednesday.
According to the Turkish Statistical Institute, month-to-month inflation rose to 2.93 percent in December. (Mustafa Kaya/Handout via Xinhua)
A man shops at a market in Ankara, Türkiye, Jan. 3, 2024.
Türkiye’s annual inflation climbed to 64.77 percent in December last year, according to official data published Wednesday.
According to the Turkish Statistical Institute, month-to-month inflation rose to 2.93 percent in December. (Mustafa Kaya/Handout via Xinhua)
