Breaking News: TurkStat announces December inflation
The Turkish Statistical Institute (TurkStat), which has drawn public criticism over its data, has released the inflation figures for December. Following the data announced by TurkStat, the pay raise rates for civil servants and retirees have been determined.
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TurkStat has announced the inflation data for December.
According to TurkStat, inflation in December was 1.03 percent, while the annual rate was 44.38 percent.
CIVIL SERVANT AND RETIREE PAY RAISES DETERMINED
Accordingly, the 6-month inflation adjustment has also been determined. Civil servants and civil servant retirees will receive an 11.55 percent raise in the first 6 months of 2025. Workers' retirees will receive a 15.75 percent raise.
According to the statement made by the Turkish Statistical Institute (TurkStat), the change in the CPI (2003=100) in December 2024 was 1.03 percent compared to the previous month, 44.38 percent compared to December of the previous year, 44.38 percent compared to the same month of the previous year, and 58.51 percent based on twelve-month averages.
EDUCATION PRICES DOUBLED
The main group that showed the lowest increase compared to the same month of the previous year was transportation at 25.88 percent. In contrast, the main group with the highest increase compared to the same month of the previous year was education at 91.64 percent.
HIGHEST INCREASE IN HOUSEHOLD GOODS
In terms of main expenditure groups, the main group that decreased the most in December 2024 compared to the previous month was clothing and footwear at -0.67 percent. In contrast, the main group with the highest increase in December 2024 compared to the previous month was household goods at 2.78 percent.
As of December 2024, out of the 143 basic headings covered in the index (Classification of Individual Consumption by Purpose - COICOP 5-digit level), the indices of 19 basic headings decreased, while there was no change in the indices of 12 basic headings. An increase occurred in the indices of 112 basic headings.
SPECIAL SCOPE CPI IS 43.94 PERCENT ANNUALLY
The change in the CPI excluding unprocessed food products, energy, alcoholic beverages, tobacco, and gold was 1.17 percent in December 2024 compared to the previous month, 43.94 percent compared to December of the previous year, 43.94 percent compared to the same month of the previous year, and 58.37 percent based on twelve-month averages.
ENAG HAD ANNOUNCED IT AS 2.34 PERCENT
The Inflation Research Group (ENAG) announced that inflation increased by 2.34 percent in December and that the annual inflation rate was 83.40 percent.