Türkiye’s inflation rate eased for the ninth consecutive month, reaching 39.05% in February, marking its lowest level since July 2023, according to official data released on Monday. This figure was below market forecasts, as economists had projected inflation to hit 40%.
The annual inflation rate fell from 42.12% in January, and according to TurkStat, the decrease was driven by slower price increases across various sectors. Energy prices saw a year-on-year rise of 43.92% in February, slightly higher than the 43.05% increase in January.
Food and non-alcoholic beverage prices rose at their slowest pace since November 2021, climbing 35.11%, down from 41.76% in January. Meanwhile, annual core inflation, which excludes volatile items like energy and food, dropped to a 37-month low of 40.21%.
On a monthly basis, the consumer price index (CPI) rose by 2.27%, a significant decrease from January’s 5.03%. Core CPI increased by 1.80% month-on-month, down from the 5.59% rise recorded in January.
Treasury and Finance Minister Mehmet Simsek commented on the figures, stating that the government anticipates the ongoing decline in inflation to continue. He attributed this to fiscal and income policies aimed at promoting disinflation and improving public expectations. “We will resolutely implement our policies to achieve price stability, which will permanently improve the purchasing power and income distribution of our citizens,” Simsek wrote on X.
