Turkish inflation holds firm around 61% despite monthly fluctuations

The General Index within the CPI (2003=100) exhibited a 3.43% change from the previous month, a 55.00% change from December of the preceding year, a significant 61.36% surge from the same month of the previous year, and a 54.26% increase based on twelve-month moving averages in October 2023.

Breaking down the figures, the housing category reflected the lowest annual increase at 25.98%. Conversely, the highest annual increase was observed in hotels, cafes, and restaurants, recording a substantial 94.12% surge.In October 2023, transportation indicated the lowest monthly increase at -0.18%, while clothing and footwear demonstrated the highest monthly increase at 13.73% (indices, weights, and rate of changes (%) by primary expenditure groups are detailed in Table-1).

Within the 143 basic headings of the index (Classification of Individual Consumption by Purpose-COICOP 5 Digit Level), the index of 15 basic headings decreased, 6 remained unchanged, and the index of 122 basic headings increased.

Additionally, a modified CPI excluding unprocessed food, energy, alcoholic beverages, tobacco, and gold revealed a 60.05% change from December of the preceding year, a notable 67.61% from the same month of the previous year, and a 57.65% increase based on twelve-month moving averages in October 2023. (ILKHA)