ANKARA, Aug. 3 -- The annual inflation rate of Türkiye rose to 47.83 percent in July, marking the first increase since October last year, according to official statistics issued on Thursday. The consumer price index (CPI) in July rose to 47.83 percent annually and 9.49 percent monthly, according to the Turkish Statistic Institute. The CPI experienced an 8-month consecutive decline from a peak of 85.51 percent in October 2022 to 38.21 percent in June 2023. Türkiye's central bank revised its year-end inflation forecast to 58 percent last week, up from the previous forecast of 22.

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