Trkiye: Trkiye's annual inflation rate registered at 30.65% in January, slightly down from 30.89% in December, continuing a downward trend for the fourth consecutive month. Official data released by the Turkish Statistical Institute highlighted this ongoing decline, with inflation having decreased continuously over the past 20 months, save for one month.

According to Anadolu Agency, the January inflation figure represents the smallest increase in consumer prices in Trkiye since November 2021, when it was recorded at 21.31%. The data showed that the highest annual price increases for January were in education at 64.7%, housing at 45.36%, and hotels, cafes, and restaurants at 33.31%. In contrast, clothing and footwear experienced the smallest price hikes at 7.07%, followed by communications at 20.09% and health at 21.63%.

On a month-to-month basis, the consumer inflation rate stood at 4.84% in January. Turkish Treasury and Finance Minister Mehmet Simsek commented on the Turkish social media platform Nsosyal, attributing the changes in consumer prices to food prices and seasonal factors specific to January. Simsek indicated that the government expects these January-specific factors to have a limited impact on the overall trend of inflation.

Simsek further emphasized the government's commitment to continue implementing disinflation policies supported by supply-side measures, aiming to maintain and enhance the downward trajectory of inflation in the country.