Turkish Statistical Institute (TUIK) published the first consumer and producer price indices of the new year. While consumer prices increased by 11,10 percent on a monthly basis in January, annual inflation rose from 36,08 percent to 48,69 percent. This rate was the highest inflation seen since April 2002.
TurkStat announced the Consumer Price Index (CPI) figures for January 2022.
CPI increased by 11,10 percent in January. Annual inflation, which was 36.08 percent in December, rose to 48.69 percent. Producer prices, on the other hand, increased by 10,45 percent on a monthly basis, while annual D-PPI rose to 93,53 percent. Annual core CPI was 39,45 percent.
22 PERCENT INCREASE IN ALCOHOLIC BEVERAGES
The main groups with the highest increase in January were alcoholic beverages and tobacco with 21,90 percent, housing with 18,91 percent and household goods with 12,82 percent.
The main group, which showed a monthly decrease in January, was clothing and shoes with 0,24 percent. The main groups that showed the least increase were education with 1,19 percent, communication with 2,16 percent, various goods and services with 8,09 percent.
69 PERCENT ONE YEAR INCREASE IN TRANSPORTATION
The main groups with the highest increase in CPI compared to the same month of the previous year were transportation with 68,89 percent, food and non-alcoholic beverages with 55,61 percent, and household goods with 54,53 percent, respectively.
The lowest increase on an annual basis was realized in the main group of communication with 10,76 percent. The other main groups in which the increase was lower compared to the same month of the previous year were education with 18,67 percent, clothing and shoes with 25,32 percent and health with 28,63 percent, respectively.
CENTRAL BANK YEAR-END EXPECTATION
Central Bank Governor Şahap Kavcıoğlu announced the first inflation report of the year last week. The inflation forecast for the end of 2022, which was 11,8 percent, was raised to 11,4 percent with an increase of 23,2 points.
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