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  • World - Europe
  • Updated: March 03, 2023

Turkey’s Inflation Eases Further In February

Turkey’s Inflation Eases Further In February

Turkey’s inflation eased slightly more than expected in February, official data showed on Friday.

The annual consumer price index (CPI) dropped to 55.18% last month, the Turkish Statistical Institute (TurkStat) said.

It is compared to 57.7% in January and is down from the peak of 85.5% – a 24-year high – registered last October. Surveys also expected the annual February reading to come in at around 55.5%.

Month-over-month, inflation rose by 3.15%, the data showed, mainly due to higher food prices and price hikes in education and services.

The inflation report comes as the government prepares to ramp up spending to rebuild part of Turkey following the earthquakes that struck on February 6th.

The quake killed more than 45,000 people and left millions homeless.

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