The inflation rate for August in the Turkish Republic of Northern Cyprus (TRNC) has been recorded at 37.70% year-on-year. According to the data announced by the Turkish Statistical Institute (TÜİK), the Consumer Price Index (CPI) in the TRNC increased by 3.04% month-on-month and 24.01% year-on-year.
Price Increases in August by Category
The category that saw the highest increase in consumer prices in August was Alcoholic Beverages and Tobacco, with an increase of 8.35%. This was followed by Transportation at 4.96%, Restaurants and Hotels at 4.74%, and Education at 3.97%. In the Food and Non-Alcoholic Beverages category, the price increase was measured at 3.73%.
Upon closer examination, prices in the Various Goods and Services category rose by 3.07%, in Health by 2.97%, and in Furniture and Household Appliances by 2.17%. The increase in the Entertainment and Culture category was 1.60%, while increases in Housing, Water, Electricity, Gas and Other Fuels, and Communication were recorded at 1.41% and 0.25%, respectively.
Products with Highest Price Increases and Decreases in August
The product that recorded the highest price increase in August was fresh green beans, which rose by 83.73%. In second place was lettuce at 58.95%, followed by beets at 53.67%. On the other hand, the product with the highest price decrease was regular tickets for the State Theater, which saw a decrease of 50%. Cucumbers dropped in price by 35.24% and fresh okra by 34.77%.
In the Clothing and Footwear category, prices fell by 3.90%. Overall, while the average prices of 480 items on the index increased, a decrease was observed in prices of 108 items.
A similar situation occurred in Turkey, where the inflation rate for August was determined to be 1.84% on a monthly basis. The annual inflation rate in Turkey reached 31.51%. According to the Consumer Price Index data, price increases continue to be significant in Turkey as well.
Source: www.diyaloggazetesi.com
