Inflation in Northern Cyprus Plummets Sharply in November

The Statistical Institute of the Turkish Republic of Northern Cyprus (TRNC) has reported the inflation rate for November. Inflation fell sharply to 0.78%, marking a significant decrease compared to previous months. Prices have increased by 51.63% compared to December of the previous year and by 59.88% over the past year.

According to the data released, the largest price increase compared to the previous month was seen in clothing and footwear, which rose by 9.98%.

Other notable price hikes included alcoholic beverages and tobacco products, which increased by 3.69%, food and non-alcoholic beverages by 2.83%, and other goods and services by 1.94%. Housing, water, electricity, gas, and other utility costs rose by 1.66%.

In contrast, the restaurant and hotel sector saw a decrease of 5.07%. There were also slight declines in the "transportation" and "education" categories, while the entertainment and culture sector remained unchanged.

Compared to the previous month, the prices of 436 different goods rose, while 130 experienced a decrease.

The sharpest price increases were observed in cucumbers (up by 106.56%), newspapers (up by 100%), and National Lottery tickets (up by 87.50%).

On the other hand, the greatest price reductions were seen in white cabbage (down by 55.50%) and ferry tickets (down by 31.89%).