Inflation climbs to 17-month high by – The first inflation figures for 2021 were announced. According to TURKSTAT data, it rose by 1.68% monthly to 14.97% in January. This level was the highest level after August 2019. There was an increase of 12.53% compared to the 12-month averages.

The other main groups with low increase compared to the same month of the previous year were clothing and footwear with 2.12%, education with 6.13% and communication with 6.32%, respectively. On the other hand, the main groups with higher increase compared to the same month of the previous year were various goods and services with 24.53%, household goods with 23.25% and transportation with 21.43%, respectively.

The other main group that decreased in January 2021 by main expenditure groups was education with 0.03%. The groups that showed the least increase were communication with 0.31%, alcoholic beverages and tobacco with 0.67% and transportation with 1.12%. On the other hand, the groups with high increases in January 2021 by main expenditure groups were health with 4.25%, housing with 3.02% and household goods with 2.90%, respectively.

In January 2021, the average price of 92 items out of 415 items covered in the index decreased, while the average price of 30 items remained unchanged. The average price of 293 items increased.

CPI excluding unprocessed food products, energy, alcoholic beverages and tobacco and gold In January 2021, 1.64% compared to the previous month, 1.64% compared to December of the previous year, 16.00% compared to the same month of the previous year and an increase of 12.26% compared to the twelve-month averages.

Author: Necdet Erginsoy

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