Credit card spending soared to record levels

High inflation was also reflected in the credit card expenditure data.

According to the data of the Central Bank of the Republic of Turkey (CBRT), credit card expenditures rose to a record level of 194.7 billion TL in the week of December 31. The data showed that food and grocery expenditures were also at record levels.

In the week of December 31st, credit card expenditures under various food categories increased to 21.3 billion TL. Market expenditures, on the other hand, were recorded at 68.3 billion TL in the same period. Thus, the highest weekly data of all time was observed in both categories.

In December, inflation peaked in 19 years and the spread of inflation peaked as well. Annual inflation in December was 36.1 percent. This rate was the highest inflation seen since September 2002. Monthly inflation was recorded as 13.58 percent.

There was an increase in the prices of 364 of the 415 items included in the index.

The diffusion index, which shows the ratio of products that experienced an increase in the basket to the whole basket, also climbed to the highest level of the last index that started in January 2005. According to the calculation made by Turkey Data Monitor, the diffusion index was 91.7 percent in December. The seasonally adjusted index was recorded at 90.6.