The growth rate of consumer prices in Turkey in December was the lowest in the last nine months. Last month, the CPI index increased by 64.3% year-on-year, compared with 84.4% in November, according to the country's statistical institute (Turkstat).Analysts surveyed by Trading Economics, on average, expected inflation to weaken to just 66.5%.

The cost of clothing and footwear increased by 25.9% (in November - by 37%), food and soft drinks - by 77.9% (102.6%), transport services - by 54.5% (107%). Payment for housing and utilities increased by 79.8% (82.9%).

In December, relative to the previous month, the CPI index increased by 1.2% - this is the minimum increase in 16 months. Experts predicted an increase of 2.6%.

Meanwhile, the growth rate of producer prices (PPI index) in the country in December slowed to 97.7% in annual terms compared with 136% a month earlier.

The PPI index decreased by 0.2% last month relative to November.

The Turkish national currency is trading around 18.73 lira for $1 on Tuesday, compared with 18.71 a day earlier. The Turkish stock index BIST 100 increased by 0.4% at the end of trading, while in 2022 it soared three times.

Exchange rates in Turkey - Exchange-turkey.com