site.btaTurkiye’s Annual Inflation Drops to 33.5% in July, Lowest in Nearly Four Years

Turkiye’s annual inflation rate fell to 33.5% in July, reaching its lowest level in 44 months, the Turkish Statistical Institute reported on Monday.

The year-on-year figure came in below market expectations of around 34%, local media reported. In June, Turkiye registered an annual inflation rate of 35.05%.

The July data marks the lowest inflation rate since November 2021, when it stood at 21.31%. On a monthly basis, consumer prices increased by 2.06%, compared to 1.37% in June.

The statistics also show that food and non-alcoholic beverages rose by 27.95% year-on-year and 0.07% month-on-month, transport prices increased by 26.57% annually and 2.89% monthly, while housing costs surged by 62.01% annually and 5.78% on a monthly basis.