Türkiye's annual inflation fell to 64.27% in December due to a base effect, official data showed on Tuesday (January 3). The decline was in line with expectations and owed largely to the statistical effect of the high base in the same month of 2021. According to the Turkish Statistical Institute, consumer prices increased by 1.18% in December from the previous month.
In the last report of the Turkish central bank, the year-end inflation expectation was 65.2 %. The annual producer price index, 136% in November, downed to 97.72% in December. Inflation in Türkiye hit nearly 85.5%, a 24-year high, in October after rising for 17 months, and dropped slightly in November to 84.39. Turkish households have seen a sharp decline in purchasing power despite government anti-inflation measures and salary increases.
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