In January, Prices Rose for Passports and Grenades, While Pumpkins Got Cheaper in Northern Cyprus

The Statistical Institute of the Turkish Republic of Northern Cyprus (TRNC) has revealed the inflation rate for the country. In December, inflation stood at 2.02%, and the annual inflation rate reached 50.61% in Northern Cyprus.

According to the Consumer Price Index, the biggest increase from the previous month was in telecommunications, which saw a rise of 11.52%. Healthcare costs went up by 7.52%, followed by other goods and services with a 4.32% increase, and housing, water, electricity, gas, and other fuels rising by 2.73%. The cost of food and non-alcoholic beverages increased by 1.39%, while education expenses went up by 1.38%. Recreation and cultural activities saw an increase of 1.27%, and restaurants and hotels rose by 1.26%. Meanwhile, transportation costs climbed by 1.13%, and furniture, household appliances, and home maintenance services went up by 1.02%. Finally, the price of alcoholic beverages and tobacco grew by 0.37%. The only category to see a drop was clothing and footwear, which decreased by 0.86%.

In January, prices increased for 436 items in the index, while 129 products became cheaper.

The most significant price hike was in passport fees, which surged by 60.18%, followed by grenades, which went up by 39.22%. On the other hand, the biggest price drop was in national lottery tickets, which became 50% cheaper, and pumpkins, which saw a decrease of 31.22%.