Turkish annual inflation falls to 44.38% in December
Türkiye's annual consumer price index (CPI) rose by 44.38%, with a monthly increase of 1.03% in December, according to the Turkish Statistical Institute.
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The education sector experienced the highest annual inflation at 91.64%, while transportation had the lowest at 25.88%.
Monthly, the furnishings and household equipment sector saw the largest price hike at 2.78%, whereas clothing and footwear prices decreased by 0.67%.
These figures align with the Central Bank's recent monetary policy adjustments, including a reduction of the policy interest rate from 50% to 47.5% on December 26, 2024.
The Bank's Monetary Policy Committee cited slowing inflation trends and reduced domestic demand as reasons for the rate cut.
Despite these measures, high inflation continues to impact various sectors, notably education and furnishings, indicating ongoing challenges in achieving economic stability. (ILKHA)
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