The Central Bank of the Republic of Türkiye (TCMB) published its September Price Developments Report. According to the report, consumer prices rose 1.84% in September, while annual consumer inflation fell 1.78 percentage points to 29.73%.
Among the core indicators, the annual change in the B index fell 1.68 percentage points to 29.00%, while the annual change in the C index declined 1.37 percentage points to 28.70%. Seasonally adjusted data showed that the monthly increase in consumer prices weakened compared with August.
Energy prices increased
Energy prices rose 6.25% in September. Driven by global developments, fuel prices increased 10.91% month on month, becoming the main factor behind the rise in the energy group.
Solid fuel prices rose 9.41%, while bottled gas prices increased 3.88%. Electricity prices for households remained broadly unchanged. Annual inflation in the energy group rose 6.88 percentage points to 46.11%.
Food prices declined
Prices in the food and non-alcoholic beverages group fell 0.20% month on month. Annual inflation in the group declined 6.17 percentage points to 27.62%.
Unprocessed food prices fell 2.33%, driven by supply-related declines in fresh fruit and vegetable prices. Annual inflation in unprocessed food fell to 24.15%, while annual inflation in processed food declined to 30.33%.
The monthly increase in processed food prices slowed to 1.40% compared with August. Increases in ready-to-eat food, coffee and tea stood out, while white meat prices also rose.
Education and rent affected services inflation
Services prices rose 2.15% in September, while annual inflation in the services group fell 2.63 percentage points to 37.65%. Annual inflation declined across all services subgroups.
Education services stood out with an increase of 14.19%. The spread of tuition fee increases at foundation universities, linked to the enrollment period, across August and September this year exerted downward pressure on services inflation.
Primary and secondary education fees also recorded relatively high increases in September. School bus fares rose 16.04%, while air passenger transport fares fell 9.03%. As a result of these two developments, the monthly increase in transport services remained at 0.24%.
Monthly rent inflation stood at 3.10%, while annual rent inflation was 41.34%. Prices in the restaurants and hotels group rose 1.41%, while dormitory fees increased 19.99% month on month.
Core goods prices increased
Prices in the core goods group rose 2.11% in September, while annual inflation in the group remained broadly unchanged at 15.90%. Clothing and footwear prices increased 4.01% with the transition to the new season.
Prices of durable consumer goods rose 2.02%. Within consumer electronics, prices of electrical appliances increased 3.75%, while white goods prices rose 2.79%. Monthly increases in furniture and automobile prices were recorded at 1.61% and 1.53%, respectively.
Producer prices rose 2.07%
Domestic producer prices increased 2.07% in September. Annual producer inflation fell 0.57 percentage points to 27.38%.
Energy prices stood out among the main industrial groups, rising 3.55%. Prices of intermediate goods increased 2.04%, while increases in the other main industrial groups ranged from 1.5% to 1.6%.
By sector, price increases in tobacco, refined petroleum products, and coal and lignite were notable.
