Türkiye's annual inflation eases to 31.75 percent in July, with housing costs up more than 40 percent

Consumer prices rose 1.78 percent in July, up from 0.99 percent in June, while annual inflation eased to 31.75 percent from 32.11, slightly below the 31.8 percent forecast in an Anadolu Agency survey, according to the TÜİK statistics agency. Among the three heaviest expenditure groups, annual prices rose 40.32 percent for housing, water, electricity and gas, 37.53 percent for food and non-alcoholic beverages and 30.83 percent for transport. Finance Minister Mehmet Şimşek said disinflation is continuing despite challenging global and geopolitical conditions. With the policy rate held at 37 percent for a fourth meeting running, attention now turns to the central bank's next decision, with tensions in the Middle East persisting.

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