The Inflation Research Group (Enag), made up of independent Turkish economists, said Monday morning that inflation actually reaches 175.5% in a year, more than double the official rate.
In monthly terms, the Turkish CPI rose by 4.95%, compared to the rise of 2.98% in the previous month and well above the 1.94% registered in June 2021. Thus, the moving average of the last twelve months stood at 44.54%.
In June, the lowest annual increase in prices was 23.74% in communication, as well as clothing and footwear with 26.99% and Education with 27.76%.
On the other hand, transportation with 123.37%, food and non-alcoholic beverages with 93.93% and furniture and household goods with 81.14% were the main items where the highest annual increases were recorded.
For its part, the Central Bank of Turkey maintains interest rates at 14%, after pausing last January the path of reductions in the price of moneyafter having made four consecutive cuts between September and December 2021.
Source: Ambito
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