Inflation rose in the TRNC in July

In the Turkish Republic of Northern Cyprus (TRNC), the inflation rate rose to 3.17 percent in July, following a 1.42 percent increase in June.

According to data from the TRNC Statistical Institute, the annual inflation rate fell from 35.78 percent to 35.33 percent in July, reaching its lowest level since December 2021.

Inflation, which peaked at 120.72 percent in November 2022, showed an increase of 16.15 percent in July of this year compared to December of the previous year. In July, the most notable increase among the main expenditure groups occurred in the restaurants and hotels group, with 13.32 percent.

While the prices of 75 out of the 466 items in the index decreased, increases were observed in the prices of the others. This situation reflected the general upward trend in consumer prices.