Inflation Figures Revealed
The Turkish Statistical Institute (TÜİK) announced the inflation figures for November. Annual inflation declined to 47.09%, while the monthly Consumer Price Index (CPI) was reported at 2.24%.
Inflation in Turkey is trending downward The data released by the Turkish Statistical Institute (TÜİK) indicates a downward trend in inflation for November. The annual inflation rate decreased to 47.09%, while the Consumer Price Index (CPI) showed a monthly increase of 2.24%. According to the November data, the change in CPI compared to the previous month was 2.24%, compared to December of the previous year it was 42.91%, and compared to the same month of the previous year, it was 47.09%. Additionally, a year-on-year average increase of 60.45% was recorded. This data suggests that the decline in inflation continues, creating a positive atmosphere in economic circles.
The largest increase was in education The data reveal significant differences between expenditure groups. The group with the least increase was transportation at 26.24%, while education saw the highest increase at 92.49%. The low increase in the transportation sector is considered an indicator of stability in this area. On the other hand, the high increase in education illustrates that costs in this sector are rising rapidly. The reasons for the price increases in education have also become a topic of curiosity.
Food prices rose in November In November 2024, the group that recorded the largest decrease compared to the previous month was clothing and footwear at -0.25%. Conversely, food and non-alcoholic beverages increased by 5.10% during the same period. This decline in the clothing and footwear sector indicates that consumers have reduced their spending in these categories and are taking advantage of seasonal discounts. The rise in prices for food and non-alcoholic beverages is seen as a result of increased demand and possible supply constraints. This situation reveals that interest in the food sector increased in November.
Details of the special CPI indicator B The special CPI indicator B, calculated excluding unprocessed food products, energy, alcoholic beverages and tobacco, as well as gold, was reported with an annual increase of 45.68% and a monthly increase of 1.54%. While the annual increase of 45.68% in the CPI indicator B is lower than the overall inflation rate, it includes price changes for products outside of basic needs. The monthly increase of 1.54% indicates that price changes for these products are occurring more slowly than in other main groups. This data offers clues that inflation is following a more stable trend.