Türkiye’s annual inflation rate hits 71.60% in June

The CPI showed a 1.64% increase from the previous month, a 24.73% rise from December of the previous year, and a 71.60% increase compared to the same month last year. On a twelve-month moving average basis, the CPI increased by 65.07% in June 2024.

Among various expenditure groups, clothing and footwear registered the lowest annual increase at 47.84%, while education saw the highest annual rise at 107.11%.

For June 2024, the clothing and footwear group experienced the largest monthly decrease at -0.58%. Conversely, the housing group saw the highest monthly increase at 3.79%.

Out of the 143 basic headings in the index (classified according to the Classification of Individual Consumption by Purpose-COICOP at the 5-digit level), 35 basic headings decreased, 5 remained unchanged, and 103 increased.

The indicator for the CPI with specified coverage (excluding unprocessed food, energy, alcoholic beverages, tobacco, and gold) rose by 70.40% annually and 1.90% monthly. This specific CPI (2003=100) increased by 1.90% from the previous month, 25.39% from December of the previous year, 70.40% from the same month last year, and 68.25% on a twelve-month moving average basis in June 2024. (ILKHA)