Annual Inflation in Northern Cyprus Reaches 63.57%

In the Consumer Price Index, there has been a change of 2.53% compared to the previous month, a 45.76% increase compared to December of the previous year, and a 63.57% rise compared to the same month last year.

Significant Increases in Main Expenditure Groups

Among the major expenditure groups, the highest increase was recorded in the Education category at 31.59%. Other notable increases included Alcoholic Beverages and Tobacco at 7.43%, Communication at 4.82%, Health at 4.07%, Furniture, Household Appliances, and Household Maintenance Services at 3.73%, and Various Goods and Services at 3.15%. In contrast, the Housing, Water, Electricity, Gas, and Other Fuels group saw an increase of 1.88%, Transportation by 1.75%, Food and Non-Alcoholic Beverages by 0.95%, and Clothing and Footwear by 0.32%. However, declines were noted in the Restaurants and Hotels category at 7.18%, and the Recreation and Culture category at 5.29%.

Price Fluctuations Among Goods and Services

Compared to the previous month, the average prices of 479 items surveyed showed an increase, while the average prices of 100 items declined. The three items or services with the highest price increases were: Private University Fees (for Turkish citizens) at 147.15%, Wood Fees at 130.77%, and Private University Fees (for TRNC citizens) at 128.95%. Conversely, the three items or services with the highest price reductions were: Fresh Green Beans at 43.10%, National Lottery Tickets at 37.50%, and Eggplants at 30.98%.