Ankara: Trkiye’s annual inflation has decreased once again, with the rate falling to 32.95% in August, according to APA-Economics, citing the Turkish Statistical Institute (TURKSTAT). This marks a decline from July’s figure of 33.52%, while consumer prices in August increased by 2.04% compared to the previous month.

According to Azeri-Press News Agency, over the past year, significant increases have been observed in various sectors: food and non-alcoholic beverages rose by 33.28%, transportation by 24.86%, and housing by 53.27%. These figures highlight the ongoing challenges within key areas of the economy.

Inflation in Trkiye reached its peak in October 2022, hitting the highest level in 24 years at 85.5%. The previous peak was recorded in May of the same year at 75.45%. The current trend indicates a continued effort to stabilize the inflation rate after experiencing substantial fluctuations.