Annual inflation in Türkiye falls for 4th consecutive month

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye’s annual inflation rate stood at 30.65% in January, down from 30.89% in December, marking the fourth consecutive monthly decline.

Official data from the Turkish Statistical Institute showed on Tuesday that the inflation rate has fallen continuously for the last 20 months, with the exception of one month.

The figure marked the lowest increase in consumer prices in Türkiye since November 2021, when it was 21.31%.

The highest annual price increases in January were seen in education at 64.7%, housing at 45.36%, and hotels, cafes and restaurants at 33.31%.

Clothing and footwear saw the lowest price hikes at 7.07%, followed by communications at 20.09% and health at 21.63%.

On a monthly basis, consumer inflation was at 4.84% in January.