Retail

Turkiye's CPI soars 2.93% MoM in December 2023

05 Jan '24

2 min read

Pic: Adobe Stock

Insights

Turkiye's CPI in December 2023 rose by 2.93 per cent monthly and 64.77 per cent annually.
The twelve-month moving average increased by 53.86 per cent.
The clothing and footwear sector saw a modest annual rise of 40.74 per cent but decreased by 1.33 per cent monthly.
Out of 143 categories, 20 decreased, 11 remained stable, and 112 increased.

In December 2023, Turkiye experienced a notable change in its consumer price index (CPI), according to the Turkish Statistical Institute (Turkstat). The general index of the CPI increased by 2.93 per cent compared to the previous month.

When viewed annually, there was a substantial rise of 64.77 per cent compared to December of the previous year. Additionally, the twelve-month moving average basis for the CPI in December 2023 showed an increase of 53.86 per cent.

One of the key insights from the December data was the performance of the clothing and footwear sector. This category saw a relatively low annual increase of 40.74 per cent. Furthermore, in December 2023, clothing and footwear experienced the lowest monthly increase among all categories, with a decrease of 1.33 per cent, as per Turkstat.

Out of 143 basic headings in the index, 20 showed a decrease, while 11 remained unchanged. The majority, 112 basic headings, experienced an increase.

Additionally, the CPI data excluding unprocessed food, energy, alcoholic beverages, tobacco, and gold also showed significant changes. In this category, there was a monthly increase of 2.39 per cent, and an annual increase of 68.02 per cent compared to December of the previous year and the same month of the previous year. The twelve-month moving averages basis in this segment recorded an increase of 58.58 per cent in December 2023.

Fibre2Fashion News Desk (DP)

More Retail News - Turkey...