Türkiye's annual inflation eases to 51.97% in August, lowest since July 2023
The Turkish Statistical Institute announced on Tuesday that the Consumer Price Index (CPI) in Türkiye surged by 51.97% year-on-year in August 2024, marking a 2.47% increase compared to the previous month.
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The data also revealed a 31.94% increase in the CPI since December of the previous year and a 64.91% rise based on a twelve-month moving average.
Among the main expenditure groups, transportation recorded the lowest annual increase at 28.96%, while education saw the highest spike with a staggering 120.81% rise over the year.
On a monthly basis, food and non-alcoholic beverages experienced a 1.10% decline, whereas education costs saw an 11.34% increase, the highest among all groups.
Out of the 143 basic headings tracked in the index, 118 showed an increase in August, 22 saw a decrease, and 3 remained unchanged.
The CPI indicator with specified coverage, which excludes unprocessed food, energy, alcoholic beverages, tobacco, and gold, rose by 50.87% annually and 2.88% monthly, reflecting ongoing inflationary pressures across the economy. (ILKHA)
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