Annual inflation in Turkey rose to 78.62 percent

According to ENAG, annual inflation was 175.55. Thus, consumer inflation reached the peak level of the last 24 years.

Turkish Statistical Institute (TUIK) announced the inflation figures for June. Consumer price index (CPI) increased by 78.62 percent annually and 4.95 percent monthly. With this figure, annual consumer inflation reached its highest level in the last 24 years.

According to TURKSTAT, in CPI (2003=100) in June 2022, 4.95 percent compared to the previous month, 42.35 percent compared to December of the previous year, 78.62 percent compared to the same month of the previous year and twelve months There was an increase of 44.54 percent compared to the averages. In May, the annual CPI was 73.50 percent.

According to ITO data, which is accepted as the leading indicator in terms of inflation, retail prices in Istanbul increased by 94.19 percent annually in June. The inflation expectation of economists participating in the Reuters survey was 78.35 percent.

Food inflation 81.1 percent

The lowest annual increase was realized in the main group of communication with 23.74 percent. The other main groups in which the increase was lower compared to the same month of the previous year were clothing and footwear with 26.99 percent, education with 27.76 percent and health with 39.34 percent, respectively.

On the other hand, the main groups with the highest increase compared to the same month of the previous year were transportation with 123.37 percent, food and non-alcoholic beverages with 93.93 percent, and household goods with 81.14 percent, respectively.

The highest increase in transportation

In terms of main expenditure groups, the main groups that showed the least increase in June 2022 were clothing and footwear with 0.18 percent, health with 1.97 percent and entertainment and culture with 2.02 percent.

On the other hand, the main groups with the highest increase in June 2022 were transportation with 10.59 percent, housing with 8.34 percent, restaurants and hotels with 5.42 percent, respectively.

In June 2022, while the index of 12 main titles out of 144 main titles covered in the index decreased, there was no change in the index of 3 main titles. There was an increase in the index of 129 main titles.

In June 2022, CPI excluding unprocessed food products, energy, alcoholic beverages, tobacco and gold was 4.20 percent compared to the previous month, 32.95 percent compared to December of the previous year, 64.42 percent compared to the same month of the previous year. and an increase of 38.59 percent compared to the twelve-month averages.

ENAG: Inflation 175.5 percent

According to the Inflation Research Group (ENAG), annual inflation was 175.55%. The consumer price index in June increased by 8.31 percent. According to ENAG, the rate for the last 6 months was 71.44 percent.

In the ENAG report, it was stated that “When TurkStat subgroups are taken as an indicator, the minimum monthly increase was 0.80 percent in health and the highest increase was in housing item with 16.51 percent”.