Turkey’s inflation surges to 61.5% in September

October 03, 2023 (MLN): Turkey's consumer price index (CPI) for the month of September 2023 surged by 61.53% YoY, compared to 58.94% YoY in August, the latest data issued by the Turkish Statistical Institute on Tuesday showed.

While on a sequential basis, Turkey's CPI has shown a relatively slower-paced increase of 4.75% MoM, as compared to 9.09% in the previous month.

According to the twelve-month averages. the CPI was 55.3% YoY.

The main group that showed the least increase compared to the same month of the previous year was housing with 20.16%.

On the other hand, the main group with the highest increase compared to the same month of the previous year was restaurants and hotels with 92.48%.

Moreover, the change in CPI, excluding unprocessed food products, energy, alcoholic beverages and tobacco and gold, is 5.06% in September 2023 compared to the previous month, 54.66% compared to December of the previous year, 67% compared to the same month of the previous year.

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