Türkiye’s annual inflation hits 48.58% in October

This marks a 39.77% increase since December of the previous year, while the twelve-month moving average rose to 62.02%.

Transportation recorded the lowest annual increase among major categories, rising 26.14% over the year and showing a slight monthly decline of 0.54% in October. In contrast, education saw the highest annual inflation rate at 93.66%, signaling the sharpest cost increases across sectors.

On a monthly basis, clothing and footwear expenses rose by 14.32%, marking the highest increase of any category, while transportation showed the largest monthly decrease among major groups.

Out of the 143 basic headings classified under the Classification of Individual Consumption by Purpose (COICOP), 110 registered price increases in October. The indices for 26 headings fell, while seven remained unchanged, reflecting inflation pressures across a wide range of goods and services.

The CPI measure excluding unprocessed food, energy, alcoholic beverages, tobacco, and gold—often used to track core inflation—rose by 47.10% annually and 2.69% monthly. Since December 2023, this indicator increased by 40.12%, with a twelve-month moving average of 62.65%, underscoring sustained inflation pressures.

These figures reflect Türkiye’s ongoing inflationary trend, particularly driven by rising costs in education and clothing, as well as broader inflation across most consumer goods and services. (ILKHA)