TurkStat January 2023 Inflation Rate Announced, How Much, What Percent?

January inflation figures showed the inflation rate in the first month of the new year. After the data announced by TURKSTAT, the rates emerged in PPI and CPI. Well, what is the January 2023 inflation rate, what percentage was it?

TURKSTAT JANUARY 2023 INFCATION DATA ANNOUNCED

At the beginning of each month, the Turkish Statistical Institute keeps the data for the previous month. January inflation was announced at 3:2023 on Friday, February 10.00, 6.65. According to the last minute statement made by TURKSTAT, monthly inflation was 57,68 percent and annual inflation was announced as XNUMX percent annually.

After the announcement of January inflation, the rate of increase in rents became clear. Inflation data was also the first data for pensioners and civil servants.

HOW MUCH WAS THE INFLATION RATE EXPECTED?

At the beginning of the year, it was expected that monthly inflation would continue to be high with 3.8% due to the hikes in public transportation, bread and many products, while annual CPI was expected to decline sharply to 53.50% due to the base effect.

Consumer prices increased by 1,18 percent in December, ending 2022 at 64,27 percent.

ENAG 2023 JANUARY INFCATION DATA ANNOUNCED

The Inflation Research Group (ENAG), independently formed by academics and economists, announced inflation data. Accordingly, while 12-month inflation was 121.62 percent, monthly inflation was 9.26 percent in January.

Every month, the Inflation Research Group (ENAG) comes before the public with its own calculated inflation rate. It is noteworthy that there is a big gap between the ratios announced and TURKSTAT.

According to the data of the Inflation Research Group (ENAG), independently formed by academics and economists, it increased by 9.26 percent in January. The last 12-month increase in e-CPI was 121.62 percent.

HIGHEST INCREASE IN HOUSEHOLD GOODS

When TurkStat subgroups are taken as an indicator, the minimum monthly increase was 1,79 percent and the highest increase was in the Household Goods item with 17,69 percent.