Stagnating Economy is Lowering Inflation

According to the Turkish Statistical Institute, the annual rise in consumer prices was 9.5 percent in January 2009.

Erhan Üstündağ

The Turkish Statistical Institute (TÜİK) has announced its consumer price index (CPI) of January 2009, saying that yearly inflation had fallen to 9.5 percent.

Decrease in clothing and shoes

The highest monthly increase in the areas of recreation and culture, food and non-alcoholic drinks, transport, communication and housing expenses. On the other hand, there was a decrease of 8.23 percent in clothing and shoes.

Compared to January last year, the greatest rise was in the housing sector, with 18.67 percent.

The highest monthly increase in CPI by regional basis was in İzmir (2,28%). The high increases in CPI were recorded in Van, Muş, Bitlis, Hakkari provinces (11,48%) compared with the same month of the previous year.

In January 2009 within average prices of 449 items in the index, average prices of 64 items remained unchanged while average prices of 235 items increased and average prices of 150 items decreased. (EÜ/AG)

* This article made use of www.turkstat.gov.tr