Turkey Inflation Rate Slows to 42% in January

The annual inflation rate in Turkey slowed to 42.12% in January 2025, down from 44.38% in December but above forecasts of 41.25%.

This marks the eighth consecutive month of easing consumer inflation and is the lowest reading since June 2023, as prices moderated across most sub-indices, particularly food and non-alcoholic beverages (41.76% vs. 43.58% in December).

Inflation also slowed for housing, water, electricity, gas, and other fuels (68.90% vs. 69.03%), transport (23.14% vs. 25.88%), furnishings, household equipment, and routine maintenance (35.32% vs. 38.72%), clothing and footwear (27.53% vs. 32.32%), and recreation and culture (33.05% vs. 37.57%).

Meanwhile, annual core inflation fell to 42.65%, the lowest since January 2022, down from 45.34% in November.

On a monthly basis, the CPI surged by 5.03%, the highest since January last year, up from a 1.03% increase in December.