TRNC Reports Annual Inflation at 81.22%
The Statistical Institute announced that the inflation rate for the month of September stands at 3.27%. As a result, the cumulative inflation for the first nine months of 2023 reaches 63.64%, while the annual inflation rate is reported at 81.22%.
According to the statement from the Statistical Institute of the Turkish Republic of Northern Cyprus (KKTC), the highest increase in major expenditure groups compared to the previous month was 17.89% in the education category.
Alcoholic beverages and tobacco saw an increase of 9.86%, while furniture, household appliances, and home care services rose by 4.72%. Food and non-alcoholic beverages increased by 4.52%, housing, water, electricity, gas, and other fuels by 3.79%, transportation by 3.75%, clothing and footwear by 3.27%, various goods and services by 2.55%, restaurants and hotels by 1.54%, health by 1.35%. In contrast, entertainment and culture saw a decrease of 6.58%, while communication decreased by 1.05%.
The average prices of 518 items increased compared to the previous month, while 87 items saw a decrease in their average prices.
The top three items with the highest price increases were red cabbage at 157.35%, white cabbage at 93.63%, and soccer field rental fees at 87.55%.
On the other hand, the top three items with the highest price decreases were lottery tickets (TC) at 40.00%, okra at 28.31%, and lemons at 27.82%.
Source: TAK
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