AMED TIMES - The inflation data released by ENAG and TÜİK for July 2024 reveal noticeable differences between the two institutions' figures.
TÜİK Data
The Turkish Statistical Institute (TÜİK) reported that the Consumer Price Index (CPI) increased by 3.23% compared to the previous month, 28.76% year-to-date, and 61.78% compared to the same period last year. Additionally, the inflation rate based on 12-month averages was measured at 65.93%.
ENAG Data
In contrast, the Inflation Research Group (ENAG) reported a monthly inflation rate of 5.91% and an annual inflation rate of 100.88% for July. The Istanbul Chamber of Commerce (ITO) calculated a monthly inflation rate of 4.21% and an annual inflation rate of 72.80% for the same period. These figures highlight significant discrepancies between various inflation measurements.
Numerical Differences Between TÜİK and ENAG
Economists' predictions for July were that the monthly inflation would be around 3.45% and the annual inflation around 62.1%. However, the actual annual inflation rate fell significantly outside these forecasts, ranging between 66% and 100%.
ENAG had reported a CPI of 4.27% for June, while TÜİK had announced a monthly inflation rate of 1.64% and an annual inflation rate of 71.60% for that period. These differences highlight the discrepancies in inflation calculations and the diversity of results obtained from various data sources.
