ANKARA, Aug. 3 (Xinhua) -- Türkiye's consumer prices edged up 1.78 percent in July, up from a 0.99 percent rise in June, slightly slowing annual inflation to 31.75 percent due to favorable base effects, the Turkish Statistical Institute announced Monday.
Lower food prices due to seasonal effects have helped soften annual consumer prices in July, despite a rise in energy prices linked to geopolitical tensions, according to the institute.
Türkiye's annual inflation eased to 30.6 percent at the end of 2025 before rising to 32.6 percent in May, as food prices surged due to adverse weather conditions earlier this year and higher energy costs.
Türkiye has been struggling with high inflation for nearly a decade, and high prices, especially of food, transportation and energy, have significantly eroded the purchasing power of households and businesses alike.
In its latest Economic Outlook report published in early June, the Organization for Economic Co-operation and Development (OECD) lowered its 2026 growth forecast for Türkiye to 3.1 percent, down from 3.3 percent.
The OECD also projected that inflation in Türkiye will fall below 20 percent in the first half of 2027, as a tight monetary policy continues to cool price pressures despite risks from the Middle East conflict. ■