Part 4/8:
A closer look at the month-on-month inflation reveals fluctuations, particularly a significant peak of 6.7% in January 2024. However, recent statistics show a positive trend, with only a marginal increase of just over 1% in December. This steady decrease suggests that Turkey might be on the verge of a more sustainable economic upturn, assuming the trend continues.
Food Inflation: A Critical Indicator
Food inflation remains a pressing issue in Turkey, especially for low-income households that allocate a larger proportion of their budgets to food expenses. Recent figures show food inflation at 43.6%, still alarmingly high but lower than the overall inflation rate. Turkey ranks among the countries with the highest food inflation globally, only second to Argentina’s dramatic increases.