03.02.2026 12:16
Inflation figures increased above expectations, reaching 4.84% in January. Minister of Treasury and Finance Mehmet Şimşek explained the reasons for the rise in inflation. Şimşek stated, "In the realization of January inflation, food prices, which increased above the long-term average due to adverse weather conditions, and seasonal factors were decisive."
According to the Turkish Statistical Institute (TÜİK), in the first month of the year, the Consumer Price Index (CPI) increased by 4.84%, while the annual increase was 30.65%. Thus, the highest inflation in 12 months was observed on a monthly basis.
HIGHEST INCREASE IN HEALTH AND FOOD
The highest monthly increase occurred in the health group at 14.85%, while food and non-alcoholic beverages saw an increase of 6.59%, and transportation experienced a 5.29% rise. In terms of annual increases, education led with 64.70%, followed by housing at 45.36%.
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MINISTER ŞIMŞEK: INCREASED FOOD PRICES DUE TO UNFAVORABLE WEATHER CONDITIONS WERE DETERMINING
Evaluating the high inflation figures, Minister of Treasury and Finance Mehmet Şimşek stated, "In the realization of January's inflation, the impact of unfavorable weather conditions led to food prices rising significantly above the long-term average, along with seasonal factors being decisive. While monthly inflation exceeded expectations, annual inflation decreased to 30.7%. The decline in annual service inflation has continued uninterrupted for 21 months, while core goods inflation maintained a moderate trend at 17.4%. Annual rent inflation decreased by 44 points compared to the same month of the previous year. We anticipate that the impact of January-specific factors on the main trend of inflation will remain limited. We will continue our disinflation policies, supported by supply-side measures, with determination. Thus, we expect a decline in the main trend of inflation and a reduction in the rigidity of pricing behaviors." he said.