 "Battling cost of living crisis, Turkey shows signs of respite as annual inflation eases to 42%")
Annual inflation slowed in Turkey in January for the eighth consecutive month, official figures showed Monday.
Consumer prices rose by 42.1 percent year-on-year, compared with 44.3 percent a month earlier, figures from Turkey’s TUIK statistics institute said.
Turkey has experienced double-digit inflation since 2019, making life increasingly more expensive for millions of people, notably hitting the cost of education, housing, healthcare and restaurants and hotels.
The annual rate peaked at 75 percent in May before starting to ease from June.
On January 23, Turkey’s central bank lowered its key interest rate to 45 percent from 50 percent in December, saying its efforts to tame sky-high inflation were starting to pay off.
The official figures are disputed by the ENAG group of independent economists, which publishes its own monthly figures and gave a January year-on-year estimate of 81 percent.
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