Turkey inflation gains slightly to 31.5% in February

Ankara: Turkey's annual inflation rate rose slightly in February to a huge 31.5%, up from 30.7 in January after several consecutive months of falling, official figures showed on Tuesday.

On a monthly basis, consumer prices rose 2.96%, compared with 4.8% in January, driven by housing and food costs, the TUIK statistics agency said.

Food prices rose by 6.8% over the course of the month, and housing expenditure by 2.4%, the figures showed.


Year-on-year, the price surges were particularly marked in education (up 55.7%), housing (42.3%) and food (36.4%).

As usual, the figures were contested by independent economists from the Inflation Research Group (ENAG), who estimate consumer price inflation rose by 4.01% in February, rising to 54.14% over the past 12 months.

Turkey has experienced double-digit inflation since 2019, with the year-on-year figure over 30 percent for the past four years.

It rose above 75% in May 2024 before beginning to slow.