Turkish Inflation Eases Further To 42.12%, Lowest In 19 Months

(RTTNews) - Turkey's consumer price inflation moderated for the eighth successive month in January to the lowest level in just over one-and-a-half years, figures from the Turkish Statistical Institute showed on Monday.

The consumer price index rose 42.12 percent year-over-year in January, slower than the 44.38 percent surge in December. The inflation rate was expected to slow to 41.25 percent.

Further, this was the weakest inflation since June 2023, when prices had risen 38.21 percent.

Among categories, the annual price growth in food and non-alcoholic beverages eased to 41.76 percent from 43.58 percent. Similarly, inflation based on utilities moderated to 68.90 percent from 69.03 percent.

Data showed that transport charges rose at a slower pace of 23.14 percent versus 25.88 percent a month ago.

On a monthly basis, consumer prices increased 5.03 percent in January, after a 1.03 percent gain in December. The expected rise was 4.35 percent.

Separate data from the statistical office showed that producer price inflation also eased to a 47-month low of 27.20 percent in January from 28.52 percent in the prior month. Monthly, producer prices moved up 3.06 percent versus a 0.40 percent increase in December.

Among the main sectors, prices for the mining and quarrying sector grew 33.40 percent from last year, and those for manufacturing rose by 27.60 percent.