According to TUIK (Turkish Statistical Institute) data, consumer prices increased by 2.93% on a monthly basis in December, with annual inflation reaching 64.77%. The prevailing market expectation was that the Consumer Price Index (CPI) would rise by 3% on a monthly basis, and the annual CPI would reach 65%.
The Central Bank had previously stated in its 4th Inflation Report that the year-end inflation forecast for 2023 would be 65%.
According to calculations by ENAGrup, the Consumer Price Index (E-CPI) increased by 4.12% in December. The E-CPI recorded an annual increase of 127.21% for the year 2023.
Producer prices, on the other hand, increased by 1.14% on a monthly basis, with the annual Producer Price Index (PPI) reaching 44.22%.
Core inflation rose from 68.89% to 70.64%.
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