Türkiye's inflation rate continued its upward trajectory in September, with the consumer price index (CPI) rising 33.29% compared to the same month last year, according to data released by the Turkish Statistical Institute on Friday.

The new figures highlight the persistent cost-of-living crisis facing households, with prices for essential goods, particularly housing and food, soaring at an alarming rate.

On a monthly basis, prices climbed by 3.23%, indicating that inflationary pressures remain deeply entrenched in the economy.

A breakdown of the data reveals the severe pressure on consumers' budgets, with the most critical expenditure categories seeing the sharpest hikes. The cost of housing surged a staggering 51.36% annually, making it the category with the highest price increase and contributing 7.85% to the overall annual inflation rate.

Similarly, prices for food and non-alcoholic beverages jumped 36.06% over the year; as the largest single contributor to the overall figure, this essential category accounted for 8.60% of the annual change, with a sharp monthly rise of 4.62%. Meanwhile, transportation costs also climbed significantly, increasing by 25.30% annually.

The data shows that price rises were widespread across the economy. Of the 143 basic product categories tracked, prices increased in 113, decreased in only 25, and remained unchanged in 5.

A key indicator of underlying inflationary trends, which excludes volatile items like food, energy, and tobacco, also remained elevated. This "core" CPI increased by 32.86% annually and 3.34% monthly, suggesting that inflation is broad-based and not solely driven by temporary shocks.

The persistently high inflation presents a significant challenge to Türkiye's economic policymakers and continues to squeeze the purchasing power of Turkish citizens. (ILKHA)