Turkey’s annual inflation rate tops 15 percent

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The Turkish Statistical Institute (TurkStat), the state agency commissioned with producing official statistics on the country, shared the Consumer Price Index (CPI) for February 2021 today (March 3).

According to the figures announced by the TurkStat, the consumer price index, which is also termed consumer inflation, increased by 15.61 percent annually and 0.91 percent monthly in Turkey. A rise of 2.60 percent was measured in the CPI when compared to December 2020 and a rise of 12.81 percent on the twelve months moving averages basis.

Highest annual increase in household items

TurkStat figures have shown that the highest annual price increase was witnessed in furnishings and household equipment with 23.74 percent, which was followed by transportation with 22.47 percent and by miscellaneous goods and services with 20.61 percent.

The lowest annual increase was 2.87 percent in alcoholic beverages and tobacco. Education with 6.13 percent, clothing and footwear with 6.31 percent and communication with 7.15 percent were the other main groups where lowest annual increases were realized.

Highest monthly increase in healthcare

Health with 3 percent, food and non-alcoholic beverages with 2.57 percent and hotels, cafes and restaurants with 1.32 percent were the main groups where the high monthly increases were realized.

The highest monthly decrease was 2.32 percent in miscellaneous goods and services. In February 2021, recreation and culture with 0.98 percent and clothing and footwear with 0.93 percent were the other groups that indicated monthly decrease amongst the main groups.

Prices of 263 items increased

In February, within average prices of 415 items in the index, the average prices of 117 items decreased and the average prices of 35 items remained unchanged while the average prices of 263 items increased. (HA/SD)