The annual inflation in Turkey fell to 33.5% in July - its lowest level in the last 44 months, according to data from the National Statistical Institute, published on its official website, BTA reports.
The result is below market expectations, which predicted inflation of about 34%, local media noted. For comparison, in June, inflation was 35.05%.
The new level is the lowest recorded since November 2021, when inflation was 21.31%.
On a monthly basis, the consumer price index increased by 2.06%, a significant acceleration compared to the growth of 1.37% in June.
The statistics also report changes on an annual and monthly basis by main categories of goods and services:
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Food and beverages: an increase of 27.95% annually and 0.07% monthly;
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Transportation: an increase of 26.57% annually and 2.89% monthly;
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Housing expenses: the largest increase - 62.01% compared to July 2024 and 5.78% compared to June.
Despite the decline in annual inflation, the increase in prices in key sectors shows that price pressures in the Turkish economy remain tangible.