The growth rate of consumer prices in Türkiye accelerated in February to the highest level since November 2022, Report informs referring to Interfax.

Inflation amounted to 67.1% in annual terms compared to 64.9% in January, according to the country’s statistical institute (Turkstat).

Analysts on average predicted growth of 65.7%, Trading Economics reports.

The cost of utilities in February jumped by 49.1% (a month earlier the increase was 46%), transport services by 78% (by 77.5%).

Meanwhile, food prices rose 71.2% after rising 69.7% in January. Prices in cafes and restaurants soared by 94.8% (in January by 92.3%). Clothing and footwear increased in price by 43.4% (40.6%).

Consumer prices in February increased by 4.5% compared to January, when the rise was 6.7%.

Core inflation, which does not take into account the cost of food, energy, tobacco and gold, accelerated to 72.9% year-on-year in February from 70.5% a month earlier, Turkstat reports.

Producer price indices (PPI) in Türkiye last month increased by 47.3% year over year and by 3.7% compared to January. In January, prices rose by 44.2% and 4.1%, respectively.