Turkey Inflation Rises Further To 15-Month High

(RTTNews) - Turkey's consumer price inflation increased for the fourth straight month in February to the highest level in more than a year, figures from the Turkish Statistical Institute showed on Monday.

The consumer price index rose 67.07 percent year-over-year in February, faster than the 64.86 percent increase in January.

Further, the latest inflation was the highest since November 2022, when prices had risen by 84.39 percent.

Among categories, there was a 94.78 percent jump in expenses for hotels, cafes, and restaurants, and transportation charges grew sharply by 77.98 percent.

Prices for food and non-alcoholic beverages alone surged 71.12 percent, and health costs rose 81.25 percent from last year.

On a monthly basis, consumer prices increased 4.53 percent in February, after a 6.70 percent gain in January.

Separate data from the statistical office showed that producer price inflation rose to a 5-month high of 47.29 percent in February from 44.20 percent in the prior month. Monthly, producer prices moved up 3.74 percent versus a 4.14 percent gain in January.