In 2022, inflation in Turkiye exceeded 64%
The consumer price index in Turkiye in annual terms amounted to 64.27 percent last year – as informed by the country’s Statistical Institute, TASS reports
In December 2022, the monthly price growth slowed down slightly and amounted to 1.18 percent – becoming the minimum monthly inflation rate over the past nine months.
Prior to the announcement of official data, several Turkish experts and private statistical organisations predicted inflation at around 66-80 percent in annual terms. According to the results of November last year, the Statistical Institute declared possible inflation at the level of 84.39 percent.
In 2022, the largest increase in prices was recorded in residential real estate (79.83 percent), food and soft drinks (77.87 percent). The cost of service in restaurants and hotels increased by 68.48 percent, and medical care – by 66.6 percent. Alcoholic beverages and tobacco rose in price by 65.11 percent. To a lesser extent, inflation affected ready-made clothes and shoes: prices grew by 25.87 percent.
