Turkey's Inflation Drops for Eighth Consecutive Month in January
Feb 3, 2025

Turkey's Inflation Drops for Eighth Consecutive Month in January

Inflation in Turkey continued its downward trend for the eighth month in a row this January, landing at the lowest mark since June 2023. According to a report by Euronews, this development suggests that the country is beginning to gain a firmer grip on its economic challenges.

The annual inflation rate for January was recorded at 42.1% by the Turkish Statistical Institute, down from December's 44.4%, though still slightly above market expectations of 41.3%. According to data from the IndexBox platform, the decrease in inflation was bolstered by falling prices in housing, electricity, and a notable decline in recreation and culture prices.

Non-alcoholic beverages and food inflation saw a decrease, reaching 41.8% in January from 43.6% in December. There was also a reduction in the inflation rate for water, housing, electricity, gas, and other fuels. Recreation and culture inflation notably decreased from December's 37.6% to 33.1% in January. Similarly, clothing and footwear prices experienced a drop to 27.5% from 32.3% in the previous month.

Core Inflation Sees Historical Low while Consumer Confidence Dips

Despite these promising numbers, Turkey experienced a 5% month-on-month inflation increase in January, which was the highest rise since January 2024, attributed to the recent minimum wage increment. Meanwhile, the consumer confidence index showed a slight drop from 81.3 in December to 81, affected by the consumers' expectations for their financial circumstances in the coming year and lower projections in durable goods spending.

While the government's measures, including raising interest rates, have started showing results, challenges remain as Turkey continues to weather high inflation compared to global standards. The economic outlook remains cautiously optimistic, with consumers expressing hope for stability in the year ahead.

Source: IndexBox Market Intelligence Platform

  1. 1. INTRODUCTION

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    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

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    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
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  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

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    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
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    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
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  7. 7. GLOBAL PRODUCTION

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    1. PRODUCTION VOLUME AND VALUE
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    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
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  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
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  10. 10. PROFILES OF MAJOR PRODUCERS

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  11. 11. COUNTRY PROFILES

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    • United States
    • China
    • Japan
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    • France
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    • India
    • Canada
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    • Pakistan
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    • Algeria
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  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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