In Turkey, prices rise as much as in a few other countries. But for the first time in over a year, the inflation remained under the 40 percent mark-at least according to official statistics.
In Turkey, the increase in consumer prices continued to slow down in February. The inflation rate was 39.05 percent last month in the previous year comparison, as the Turkish statistics office announced. This weakened the price increase for the ninth month in a row; It was the first time since June 2023 that the inflation rate was below 40 percent.
In January the rate was 42.1 percent. In the month comparison, consumer prices climbed by 2.3 percent according to the statistics office. The prizes in February afterwards increased particularly strongly in the areas of education, living and health as well as in the hospitality industry.
Real inflation even higher?
The official inflation rate in Turkey has been in the double -digit range every month for almost five years; In May 2024 she reached 75 percent. Since then she has been going back gradually. However, the official inflation numbers are questioned by independent economists. The inflation research group Enag assumes a price increase in February 79.5 percent in the previous year comparison.
The Turkish central bank had only started to increase interest in the fight against inflation last year. Previously, head of state Recep Tayyip Erdogan had long rejected a strict monetary policy despite enormous inflation rates and, contrary to the common doctrine, for a long time. The key interest rate in Turkey is currently 45 percent.
