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Turkey Inflation January 2022

Turkey: Inflation jumps to record-high in January

Consumer prices rose 11.10% in January over the previous month, which was below the 13.58% increase recorded in December. The print was driven by a drop in clothing and footwear prices. On the other hand, prices for alcoholic beverages and tobacco, and housing jumped over the prior month.

Inflation rose to 48.7% in January, above December’s 36.1%. January’s reading .reading. January’s reading marked the highest level since April 2002. Annual average inflation rose to 22.6% in January (December: 19.6%). Lastly, core inflation rose to 39.5% in January, from the previous month’s 31.9%.

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