Inflation: a challenging start to 2026
TURKEY
- Report
03 Feb 2026
by Murat Ucer
Consumer prices rose by a higher than expected 4.8%, m/m, in January, with the 12-month CPI rate therefore easing only slightly to 30.7% from 30.9% in December, while producer prices rose by 2.7% (January 2025: 3.1%, m/m) with the 12-month rate easing to 27.2% from 27.7% in December. The key driver of the worse than expected CPI print appears to be food (and beverage) prices, which rose by a whopping 6.6% in the month, vs. 3.9% in January 2025, with the 12-month food inflation rising visibly to 31.7%, y/y, from 28.3% in December.
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