Turkey Inflation Rate

The annual inflation rate in Turkey fell to a 9-month low of 64.3 percent in December 2022 from 84.4 percent in the previous month, and compared to market forecasts of 66.5%. Cost advanced at a softer pace in all components: housing & utilities (79.8 percent vs 82.9 percent in November), clothing & footwear (25.9 percent vs 37 percent), food & non-alcoholic beverages (77.9 percent vs 102.6 percent), alcoholic beverages & tobacco (65.1 percent vs 83.5 percent), furnishings, household equipment, routine maintenance (73 percent vs 92.8 percent), transportation (54.5 percent vs 107 percent ), hotels, cafes & restaurants (68.5 percent vs 80.3 percent), recreation & culture (50 percent vs 61.2 percent), miscellaneous goods & services (53.8 percent vs 70.7 percent). On a monthly basis, consumer prices went up 1.2 percent, the lowest in sixteen months, after a 2.9 percent rise in the previous month.