TÜİK January inflation data released! What is the January inflation rate? What is the CPI increase percentage?

The Turkish Statistical Institute (TÜİK) has announced the January inflation figures that the markets were eagerly awaiting. TÜİK observed an increase of %5.03 in January compared to the previous month, and recorded an increase of %42.12 on an annual basis.

WHICH PRODUCT PRICE INCREASED THE MOST?

Compared to the same month of the previous year, the main group that showed the lowest increase was transportation with %23.14. Conversely, the main group with the highest increase compared to the same month of the previous year was education with %99.93. Regarding main expenditure groups, the main group that decreased in January 2025 compared to the previous month was clothing and footwear with %-5.17. In contrast, the main group with the highest increase in January 2025 compared to the previous month was health with %23.57.

As of January 2025, out of the 143 basic headings covered in the index (Classification of Individual Consumption by Purpose - COICOP 5-digit level), there was a decrease in the index of 13 basic headings, while there was no change in the index of 4 basic headings. An increase occurred in the index of 126 basic headings.

WHAT IS THE CPI INCREASE? WHAT IS THE RENTAL INCREASE RATE?

According to the data announced by TÜİK, the 12-month CPI figure was calculated as %56.35. With this calculated rate, the rental increase rates to be applied in February 2025 have also been determined. 

Under normal circumstances, rental increase rates calculated according to CPI data had been capped at 25 percent for the last 2 years following a practice introduced by the government.

This cap was lifted as of July, and tenants who will renew their contracts in February will apply the rental increase based on current CPI data. The February rental increase rate will be applied as 56.35 percent, due to the 12-month CPI figure being 56.35 percent.

News Source: 12punto