The annual consumer inflation rate (CPI, for its acronym in English) of Turkey decelerated for the third consecutive month in January, to 57.7%, compared to 64.3% in December, according to data published this Friday (2) by TurkStat, as the country’s statistics agency is known. The January result is the lowest in 11 months.
In October, Turkish annual CPI had reached a 25-year high of 85.5%.
In the last few months, the relief in energy prices, the stability of the Turkish lira and the statistical effects of the high prices of a year before allowed inflation to cool down.
On a month-on-month basis, however, the Turkish CPI jumped 6.7% in January, accelerating sharply from December’s 1.2% high, amid persistent price pressures.
On January 19, the Central Bank of Turkey left its benchmark interest rate unchanged at 9%, indicating that the inflationary trend had improved.
Source: CNN Brasil
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