Turkey’s inflation slowed less than expected in January

Annual inflation eased to 42.12 percent in January from 44.38 percent in December. Analysts had expected an average of 41.25 percent for the previous month.

Consumer inflation slowed for the eighth consecutive month in January, falling to its lowest level since June 2023, as price increases slowed in almost all areas. One of the most significant slowdowns in price increases was recorded for food and non-alcoholic beverages, from 43.58 percent in December to 41.76 percent in January.

Inflation slowed down in housing, water, electricity, gas and other fuels to 68.90 percent in January from 69.03 percent in December, in transportation to 23.14 percent from 25.88 percent, and in clothing and footwear, for example, to 27.53 percent from 32.32 percent.

In January this year, the monthly consumer price index jumped to its highest level since January last year, to 5.03 percent, after 1.03 percent in December.

In Turkey, annual core inflation was 42.65 percent in January, the lowest since January 2022 after 45.34 percent in December.