Announced Inflation Figures

The Turkish Statistical Institute (TUIK) announced the inflation figures for November. Annual consumer inflation (CPI), which was 85.51 percent in October, was 84.39 percent in November. In November, monthly inflation was 2.88 percent.

Thus, with the entry into force of the base effect in November, inflation decreased slightly from the maximum level of the last 24 years. The expectation of the economists who participated in the Reuters poll was that consumer prices would rise 3 percent per month and 84.65 percent annually.

The Inflation Research Group (ENAG), made up of independent academics, calculated monthly inflation of 4.24 percent and annual inflation of 170.70 percent in November.

The variation of the CPI (2003=100) in November 2022 is 2.88 percent with respect to the previous month, 62.35 percent with respect to December of the previous year, 84.39 percent with respect to the same month of the previous year and according to averages of twelve months It was carried out as 70.36.

For its part, food inflation was 102.55 percent annually and 5.75 percent monthly in November.

HIGHEST MONTHLY INCREASE IN FOOD

The main group that presented the smallest increase compared to the same month of the previous year was communication with 35.87 percent. For its part, the main group with the greatest increase compared to the same month of the previous year was transportation with 107.03 percent.

Regarding the main spending groups, the main group that presented the smallest increase in November compared to the previous month was clothing and footwear with -1.42%. On the other hand, in November 2022, the main group with the highest increase compared to the previous month was food and non-alcoholic beverages with 5.75 percent.

In November, the index of 144 core stocks and 17 core stocks included in the index declined, while the index of 8 core stocks was unchanged. There was an increase in the index of 119 basic titles.

The variation of the CPI without unprocessed food, energy, alcoholic beverages, tobacco and gold is 2.73 percent compared to the month before November 2022, 54.68 percent compared to December of the previous year and 76 percent. compared to the same month of the previous year. year, it was 61.31 percent according to the averages of .18 and twelve months.

NOVEMBER HIGH CHAMPION BUTTER

In November, the largest monthly price increases occurred in dairy products. Butter was the champion of the rise in November with an increase of 17.58 percent. It was followed by fresh milk with an increase of 15.71 percent and cheese with an increase of 15.05 percent.

The increase in soft drinks and concentrates was 14.02 percent, and that of vegetables was 13.26 percent.

The product with the greatest price drop in November was children’s clothing with a monthly decrease of 5.56 percent, interurban passenger transport by road with 2.18 percent and women’s clothing with 2.14 percent. These were followed by men’s clothing, down 1.66 percent, and data processing equipment, down 1.47 percent.