Türkiye's inflation falls for 15th month in row, at 45-month low

Country's annual inflation rate at 32.95% in August, down from 33.5% in July, monthly rate at 2.04%

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish Statistical Institute (TurkStat) announced Wednesday that the annual inflation rate in Türkiye was 32.95% in August, down from 33.5% in July, but above the expectation of around 32.6%.

The August rate fell for the 15th time in a row, and is the lowest since November 2021, when it was 21.31%, official figures by TurkStat showed.

The highest price hikes were seen in education with 60.91%, housing 52.37%, and hotels, cafes and restaurants 33.96% on a yearly basis, according to TurkStat's data.

The lowest rates were posted in clothing and footwear with a 9.49% increase, communications 20.61%, and transport 24.86%.

TurkStat said there were three main expenditure groups with the highest weight: food and non-alcoholic beverages with a 33.28% price hike, transportation 24.86%, and housing 53.27%.

"The contributions of these main groups to the annual change were 7.97% for food and non-alcoholic beverages, 4.10% for transportation and 8.12% for housing," it added.

The monthly inflation rate was 2.04% in August, down from 2.06% in July.

Kaynak:

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