Turkey's annual inflation rate rises to 9.58 percent in January

Turkey's year-on-year inflation rate increased to 9.58 percent in January, and prices rose by 1.82 percent when compared to December 2015. The inflation rate was 7.87 percent on the twelve months moving averages basis.

The highest monthly increase in consumer prices index was at 9.6 percent for alcoholic beverages and tobacco. Prices increased by 4.28 percent for food and non-alcoholic beverages, 2.71 percent for miscellaneous goods and services, 2.42 percent for health, and 2.09 percent for recreation and culture categories. The only monthly decrease was 6.71 percent for clothing and footwear.

The highest annual increase was 13.43 percent for hotels, cafes and restaurants, followed by 12.05 percent for recreation and culture, 11.69 percent for food and non-alcoholic beverages, 11.21 percent for miscellaneous goods and services, and 11.17 percent for alcoholic beverages and tobacco categories.

The highest monthly increase was 2.81 percent in the southeastern provinces of Şanlıurfa and Diyarbakır. The southern provinces of Adana, Mersin, Gaziantep, Adıyaman and Kilis saw the highest price increases year-on-year at 10.67 percent. On the twelve months moving averages basis, the highest price increase was recorded in the western İzmir province at 8.56 percent.

The average prices for 285 items of the total 417 items included in the index increased in January, while average prices of 103 items decreased and average prices for 29 items remained unchanged.