Sunday, March 26

Turkey’s inflation soared to 48.7% in January

Turkey’s year-on-year inflation rate climbed last January to 48.69% from the 36.08% registered in December, which represents the biggest rise in prices since the current Prime Minister took office two decades ago. country’s president, Recep Tayyip Erdogan.

In monthly terms, the Turkish CPI rose by 11.10% in January, after a monthly rise of 13.58% in December 2021.

In January, the lowest annual increase in prices was 10.76% in communication, as well as in education with 18.67%, clothing and footwear with 25.32% and health with 28.63%.

On the other hand, transportation with an increase of 68.89%, food and non-alcoholic beverages, with 55.61%, and furniture and household goods, with 54.53%, were the items where the largest increases were registered. annual.

The new rise in the inflation rate in Turkey is known days after the appointment of Erhan Çetinkaya as the new president of the Turkish Statistical Institute (Turkstat), responsible for preparing the price index, after the departure of Sait Erdal Dinçer, who occupied the position between March 2021 and January 2022.

The Central Bank of Turkey maintains interest rates at 14%, after pausing the path of money price reductions in January, after having made four consecutive cuts between September and December 2021.