Turkey's Inflation Rate Drops to 39.05% in February

According to the latest report released by the Turkish Statistical Institute on Monday, Turkey's annual inflation rate has decreased to 39.05% in February from 42.12% in January. The Consumer Price Index (CPI) experienced a 2.27% increase on a monthly basis.

Key Highlights:

The report detailed that the lowest annual increase was observed in clothing and footwear at 20.84%. Conversely, the education sector witnessed the highest annual increase at a staggering 94.90%.

Furthermore, the country's core CPI, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco, and gold, saw a year-over-year increase of 40.21% in February. On a monthly basis, the core inflation stood at 1.80%.