First inflation figures of the year announced
First inflation figures of the year announced. Annual inflation rose to 30.65 per cent. The economic management had stated that inflation would fall to the 20 per cent range in January, starting from the beginning of December 2025. However, they failed to meet their target again.
TÜİK announced the first Consumer Price Index (CPI) for 2026.
Accordingly, inflation in January 2026 was 4.84 per cent. Annual inflation stood at 30.65 per cent.
The change in the CPI in January 2026 was a 4.84% increase compared to the previous month, a 4.84% increase compared to December of the previous year, a 30.65% increase compared to the same month of the previous year, and a 33.98% increase compared to the twelve-month average.
THEY FAILED TO MEET THE TARGET
Treasury and Finance Minister Mehmet Şimşek and Cevdet Yılmaz had been consistently stating since December that annual inflation would fall to the 20% range. According to the figures announced, the regime again failed to meet its target.
HOUSING AT ITS HIGHEST FOR THE YEAR
The annual changes in the three main expenditure groups with the highest weight were: a 31.69% increase in food and non-alcoholic beverages, a 29.39% increase in transport, and a 45.36% increase in housing, water, electricity, gas and other fuels.
The contributions of the relevant main expenditure groups to the annual change were 7.82 percentage points for food and non-alcoholic beverages, 4.64 percentage points for transport, and 6.74 percentage points for housing, water, electricity, gas and other fuels.
FOOD AND NON-ALCOHOLIC BEVERAGES INCREASED THE MOST MONTHLY
The monthly changes in the three main expenditure groups with the highest weight were as follows: a 6.59% increase in food and non-alcoholic beverages, a 5.29% increase in transport, and a 4.43% increase in housing, water, electricity, gas, and other fuels. The monthly contribution to the change in the relevant main groups was 1.61 percentage points for food and non-alcoholic beverages, 0.88 percentage points for transport, and 0.51 percentage points for housing.
INCREASE IN 157 OF 174 SUBCLASSES
Of the 174 sub-classes covered in the index, as of January 2026, the index decreased in 14 sub-classes, while there was no change in the index of 3 sub-classes. The index increased in 157 sub-classes.
Monthly and annual changes by sector and sub-group are as follows:
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‘FOOD PRICES WERE THE DECIDING FACTOR’
Treasury and Finance Minister Mehmet Şimşek stated that the increase in food prices was the deciding factor in January's inflation.
Şimşek said: "In the realisation of January's inflation, food prices, which rose well above the long-term average due to the impact of adverse weather conditions, and seasonal factors were the deciding factors. While monthly inflation exceeded expectations, annual inflation fell to 30.7 per cent. The decline in annual service inflation continued uninterrupted for the 21st consecutive month, while core goods inflation remained moderate at 17.4 per cent. Annual rent inflation decreased by 44 points compared to the same month of the previous year. We anticipate that factors specific to January will have a limited impact on the underlying trend of inflation. We will steadfastly continue our disinflation policies, supported by supply-side measures. We therefore expect the underlying trend of inflation to decline and rigidity in pricing behaviour to decrease."
Note: This article is translated from the original article titled Yılın ilk enflasyon verisi açıklandı, published in BirGün newspaper on February 3, 2026.
