The data shows transportation costs as the only main group that recorded a negative monthly increase — approximately -0.85%. inflation liradepreciation
Latest Turkey Inflation Rate of 79.6% the Highest in 24 Years — Weakening Lira and Russia-Ukraine War Blamed
According to the latest data from the Turkish Statistical Institute, the country’s annual inflation rate for the month of July was 79.6%, the highest in 24 years. Rising transportation costs, food and non-alcoholic beverages were some of the product categories that contributed to the overall rate increase.Turkey’s consumer inflation rate in July surged to 79.60% — the highest in 24 years — while the monthly rate stood at 2.
from the Turkish Statistical Institute has shown. According to the data, transportation costs, which rose by 119.1%, were one of the four main product groups whose prices rose faster than the consumer price index .The three other product groups whose inflation rate rose faster than 79.6% are food and non-alcoholic beverages which went up by 94.65%, furnishings and household equipment , and alcoholic beverages and tobacco .
However, according to the TSI, while the transportation group is noted as the group with the biggest monthly increase, the data shows it is also the only main group that recorded a negative monthly increase — approximately -0.85%. On the other hand, the health group saw the highest monthly increase of 6.98% and is closely followed by the alcoholic beverages and tobacco group which saw an increase of 6.85%.
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