Inflation in Northern Cyprus Accelerates Again in October

In October, the inflation rate accelerated upward again in the Turkish Republic of Northern Cyprus (TRNC). According to the statement made by the TRNC Statistical Institute, the increase in consumer prices in October compared to the previous month was 3.22%. The previous month's increase had dropped to 2.52%, the lowest level in the last 11 months.

On an annual basis, the rate of increase rose from 63.57% to 65.65%. In the first ten months of the year, the inflation rate was 50.45%.

In terms of main expenditure groups, the highest increase compared to the previous month was in the Clothing and Footwear category, which saw a rise of 22.73%. The Health category increased by 14.74%, the Housing, Water, Electricity, Gas, and Other Fuels category saw an increase of 5.19%, Various Goods and Services rose by 5.00%, Restaurants and Hotels increased by 4.75%, Furniture, Household Appliances, and Household Maintenance Services rose by 3.53%, Communication increased by 1.31%, Food and Non-Alcoholic Beverages saw a rise of 1.03%, Entertainment and Culture increased by 0.87%, Transportation rose by 0.70%, Alcoholic Beverages and Tobacco increased by 0.29%, and Education saw a rise of 0.17%.

Compared to the previous month, there was an average price increase in 465 item categories within the index, while the average prices of 129 item categories decreased. The three items or services that showed the highest price increase were Hospital Bed Charges (State) at 240.00%, Diabetes Medications at 101.30%, and National Lottery Tickets at 60.00%. The three items or services that showed the highest price decrease were Pomegranate at 50.31%, Lemon at 47.38%, and White Cabbage at 41.48%.