Türkiye's Inflation hits 49.38% in September
Consumer prices in Türkiye continued its upward trajectory in September, reaching a staggering 49.38% on an annual basis.
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This marks a significant increase from the previous month and highlights the ongoing economic challenges facing the country.
According to the Turkish Statistical Institute (TurkStat), the Consumer Price Index (CPI) rose by 2.97% in September compared to August. This monthly increase contributed to the overall annual inflation rate, which has been steadily rising throughout the year.
The report also revealed that the highest annual increase was observed in the education sector, reaching 97.87%. Conversely, transportation saw the lowest annual increase at 26.60%.
On a monthly basis, communication was the only group to experience a decline, decreasing by 0.88%. Education, on the other hand, recorded the highest monthly increase at 14.21%.
TurkStat's data indicates that the inflation rate excluding unprocessed food, energy, alcoholic beverages, tobacco, and gold also rose in September, reaching 48.23% annually.
The continued surge in inflation has raised concerns among economists and policymakers in Türkiye. The high cost of living is impacting households and businesses, and the government is facing pressure to implement measures to curb inflation and stabilize the economy. (ILKHA)
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