Turkiye's CPI rises 6.7% in January 2024

06 Feb '24

1 min read

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In January 2024, Turkiye's CPI rose by 6.70 per cent month-on-month and 64.86 per cent year-on-year, with a 54.72 per cent increase on a twelve-month average, per Turkstat.
Clothing and footwear saw the smallest annual rise at 40.62 per cent, even dropping by 1.61 per cent monthly.
Excluding certain items, CPI jumped 6.85 per cent monthly.

In January 2024, Turkiye's consumer price index (CPI) increased by 6.70 per cent compared to the previous month, according to the Turkish Statistical Institute (Turkstat). However, the CPI saw a substantial 64.86 per cent increase compared to the same month of the previous year and a 54.72 per cent increase on a twelve-month moving averages basis.

Notably, clothing and footwear experienced the lowest annual increase at 40.62 per cent. In January 2024, clothing and footwear also indicated the lowest monthly increase, with minus 1.61 per cent.

Within the CPI, indices of 8 basic headings decreased, and the indices of 4 basic headings remained unchanged, while the indices of 131 basic headings increased, as per Turkstat.

In January 2024, CPI excluding unprocessed food, energy, alcoholic beverages, tobacco, and gold showed a 6.85 per cent increase compared to the previous month, a significant 67.68 per cent increase compared to the same month of the previous year, and a 59.60 per cent increase on a twelve-month moving averages basis.

Fibre2Fashion News Desk (DP)

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