Turkiye's CPI soars 3.28% in November 2023

05 Dec '23

2 min read

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Insights

In November 2023, Turkiye's consumer price index saw a 3.28 per cent monthly increase, with a dramatic 60.09 per cent rise from the previous December and 61.98 per cent from the same month last year.
Clothing and footwear sector experienced a minor deflation, while other sectors varied, reflecting diverse economic impacts across the country.

Turkiye’s consumer price index (CPI), based on 2003 figures, saw a substantial increase of 3.28 per cent from the previous month, according to Turkish Statistical Institute (Turkstat). Compared to December of the previous year, the increase was a staggering 60.09 per cent, and 61.98 per cent compared to the same month last year. Additionally, on a twelve-month moving average basis, the increase stood at 53.40 per cent.

In the same month, the clothing and footwear sector experienced a slight deflation, with the main group indicating the lowest monthly increase at minus 0.31 per cent. This data provides a nuanced understanding of sector-specific economic trends within the country, as per Turkstat.

The CPI analysis, which covered 143 basic headings, showed that the index for 23 basic headings decreased and remained unchanged for 7, while 113 basic headings saw an increase. This highlights the varied impact across different sectors of the economy.

Furthermore, when considering the CPI excluding unprocessed food, energy, alcoholic beverages, tobacco, and gold, the figures also indicated significant shifts. The index increased by 2.53 per cent from the previous month, 64.09 per cent from December of the previous year, 67.27 per cent from the same month last year, and 57.56 per cent on a twelve-month moving averages basis.

Fibre2Fashion News Desk (DP)

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