Inflation Trends Shift Sharply in July as TÜİK Releases New Data

Consumer price trends in Türkiye have taken a sharp turn, according to newly published data from the Turkish Statistical Institute (TÜİK), raising new questions about the effectiveness of current economic policies. The fresh figures shed light on the dynamics behind inflation and the sectors driving the latest price increases.

TÜİK’s Inflation Indicators Signal Broad-Based Price Growth

In its July report, TÜİK unveiled the seasonally adjusted special aggregates of the Consumer Price Index (CPI). The overall CPI climbed by 2.65% on a monthly basis, indicating sustained inflationary pressure across the economy.

When unprocessed food, energy, alcoholic beverages, tobacco, and gold were excluded, the CPI rose by 2.27%. Similarly, the CPI excluding energy, food and non-alcoholic beverages, alcoholic beverages, tobacco, and gold saw a 2.29% increase, suggesting that core inflation remains stubbornly high despite policy efforts.

Energy and Services Lead the Inflation Surge

A closer look at the subcategories reveals which segments are fueling the rise. Energy prices jumped by 7.35%, leading all other sectors. Food and non-alcoholic beverages rose by 1.09%, while non-energy, non-food goods increased by 1.68%. Notably, services recorded a 3.26% increase, indicating widespread cost pressures beyond basic goods.

These developments suggest that inflation is not confined to a single sector but is instead deeply rooted across multiple layers of the economy.