
Consumer prices up 42.12% year-on-year, surpassing forecasts
Türkiye's annual inflation rate dropped to 42.12% in January, the lowest since July 2023, according to official data released Monday.
Headline inflation eased from 44.38% in December but surpassed market expectations, TurkStat reported. Economists polled by Anadolu had forecast a further decline to 41.25%.
Energy prices saw the slowest increase in 9 months, rising by 43.05% year-on-year in January, slightly down from 43.11% in December.
The annual price hike in food and non-alcoholic beverages slowed to 41.76% in December, marking its smallest increase since December 2021.
Core inflation, which excludes volatile items like energy and food, also cooled to a 3-year low of 42.65% in January.
On a monthly basis, the consumer price index rose by 5.03% in January, marking the fastest pace in 1 year.