Inflation Hit A 3-Year Peak in October

In October, inflation hit a 3-year peak. Consumer inflation approached 20 percent in October.

While consumer inflation approached 20 percent in October, the number of items whose prices increased in the inflation basket was 331, the highest level since October 2018. The number of items whose prices increased in the inflation basket in October continued to increase. According to the data of the Turkish Statistical Institute (TurkStat), in October 2021, while the average price of 46 items decreased out of 415 items included in the index, the average price of 38 items remained unchanged. The average price of 331 items increased. Thus, the number of items whose prices have increased has recorded the highest level since October 2018. The number of items whose prices increased in October 2018 reached the highest level in the index history with 339. The diffusion index, which is calculated by the ratio of items whose prices have increased and those whose prices have not changed, also continued to rise. According to the calculations made by Turkey Data Monitor, the inflation diffusion index was recorded as 84.3 percent in October. This figure was the highest since 2018.