Turkish annual inflation eased slightly in January, maintaining a downward trend despite a stronger-than-expected uptick in monthly consumer prices, official data showed on Tuesday.
Annual consumer price index (CPI) eased to 30.65% compared to 30.89% registered in December, the data from the Turkish Statistical Institute (TurkStat) showed.
Month-over-month prices advanced 4.84% in January, data also showed. Both figures were above market expectations.
In a Reuters poll, monthly inflation was forecast to be 4.32% with the annual rate seen at 30.00%.
In December, monthly consumer price inflation edged up 0.89%.
The highest annual price increases in January were seen in education at 64.7%, housing at 45.36%, and hotels, cafes and restaurants at 33.31%.
Clothing and footwear saw the lowest price hikes at 7.07%, according to TurkStat.
The data also showed the domestic producer price index rose 2.67% month-on-month in January for an annual increase of 27.17%.
