Financial News: Turkey Inflation Eases Further To 30.89%, Lowest In

Turkey Inflation Eases Further To 30.89%, Lowest In Over 4 Years

(RTTNews) - Turkey's consumer price inflation eased further in December to the lowest level in just over four years, figures from the Turkish Statistical Institute showed on Monday.

Consumer price inflation slowed to 30.89 percent in December from 31.07 percent in November.

This was the lowest rate since November 2021, when prices had risen 19.82 percent. The rate was forecast to slow to 31.0 percent.

Inflation based on transportation moderated to 28.44 percent from 29.23 percent. The annual price growth in housing and utilities softened somewhat to 49.45 percent from 49.92 percent. Meanwhile, inflation based on food and non-alcoholic beverages accelerated to 28.31 percent from 27.44 percent.

On a monthly basis, consumer prices rose 0.89 percent in December, following a 0.87 percent increase in the previous month.

Another report from the statistical office showed that producer price inflation rose to a 1-year high of 27.67 percent in December from 26.72 percent a month ago.

Prices of mining and quarrying climbed 33.92 percent, and manufacturing reported a 27.10 percent rise. Producer prices of electricity, gas, steam, and air conditioning grew 28.69 percent and surged 57.15 percent for water supply.

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