Turkey: Inflation eases in December from November
Latest reading: Consumer prices increased 30.9% on a year-on-year basis in December, following a 31.1% rise in the previous month. December’s reading was the weakest since November 2021 but was still among the world’s highest figures.
Relative to the prior month’s figures, there were milder price pressures for transport (+28.4% in annual terms vs +29.2% in November), housing and utilities (+49.4% vs +49.9% in November) and clothing and footwear (+6.5% vs +9.0% in November). In contrast, there were higher price pressures for food and non-alcoholic beverages (+28.3% vs +27.4% in November) and restaurants and hotels (+34.1% vs +33.9% in November).
Meanwhile, core consumer prices rose 31.1% in annual terms in December, following a 31.6% rise in the previous month.
Finally, consumer prices increased 0.89% in December on a month-on-month basis, following a 0.87% rise in the previous month.