Inflation Continued to Rise in September

Inflation continued to rise in September as well. Annual inflation in September was 19.58 percent.

According to the data announced by the Turkish Statistical Institute (TurkStat), an increase of 1.25% was observed in the consumer price index in September compared to the previous month. Annual core inflation was 16.98 percent in September. The annual increase in food prices was recorded as 28.8 percent. The producer price index increased by 43.96 percent in September compared to the previous year. On a monthly basis, the increase in the producer price index was 1.55 percent.

Highest Increase on an Annual Basis is in Food

According to TurkStat data, the main groups with the highest increase compared to the same month of the previous year were food and non-alcoholic beverages with 28.79 percent, household goods with 23.27 percent and restaurants and hotels with 23.27 percent, respectively. The lowest annual increase was 1.80 percent in the alcoholic beverages and tobacco group. The other main groups in which the increase was lower compared to the same month of the previous year were communication with 4.99 percent, clothing and shoes with 7.32 percent, and entertainment and culture with 12.45 percent, respectively.

Highest Increase on a Monthly Basis is in Education

The groups with the highest increase in September were education with 5.15 percent, household goods with 3.33 percent and housing with 2.34 percent, respectively. The only main group that showed a monthly decrease was clothing and shoes with 0.16%. In terms of main expenditure groups, the main groups that showed the least increase in September 2021 were recorded as alcoholic beverages and tobacco with 0.05 percent, communication with 0.47 percent and food and non-alcoholic beverages with 0.50 percent. In September 2021, out of 415 items included in the index, the average price of 51 items decreased, while the average price of 46 items remained unchanged. The average price of 318 items increased. The product with the highest price increase in September was coal with 33.72 percent. Curly coal was followed by 30.46 percent and service fee with 29.52 percent.