Annual inflation in Türkiye accelerates to 47.8%

The annual inflation in Türkiye rose to 47.8%, an increase of 9.6 percentage points from June, Report informs, citing the country's statistics authority, TUIK.

"In July 2023, inflation was 9.49% on a monthly basis and 47.83% on an annual basis," the report says.

In June, the indicator was fixed at 38.2%.

At the same time, the independent Inflation Analysis Group (ENAG) states that the indicator exceeded 122%.

According to TUIK, the largest increase in prices for the month - more than 82% - was recorded for accommodation in hotels and restaurants, and the smallest was for real estate.

The country's central bank has raised its inflation forecast for the end of the year to 58% from the previous estimate of 22.3%.