Istanbul January 3 2024: Inflation in the Turkey rose to 64.8% on an annual basis in December, an acceleration from 62% in November 2023 and on the twelve months moving averages basis by 53.86%.
Turkish inflation hit a peak of 85.5% in October 2022. The Turkish lira saw a steep deterioration, increasing the cost of imports and eroding the salaries of the country’s many foreign workers sending money abroad.
Housing with 40.39% was the main group that indicated the lowest annual increase. On the other hand, hotels, cafes and restaurants with 93.24% was the main group where the highest annual increase realized.
