Turkey’s inflation nightmare is far from over, with new figures showing prices jumped far faster than expected in January — piling fresh pressure on families already struggling to make ends meet.
Official data released on Tuesday revealed consumer prices soared 4.84% in a single month, driven largely by steep rises in food and drink. Basic groceries alone shot up 6.59%, leaving many households cutting back on essentials.
The annual inflation rate dipped only marginally — from 30.89% to 30.65% — offering little comfort to millions who say everyday life has become unaffordable.
Economists say the January spike followed a familiar pattern: the annual minimum‑wage increase and New Year price adjustments rippling through supermarkets, services and utility bills.
For ordinary Turks, the squeeze is relentless.
“I buy less meat now and compare prices at several shops,” said 42‑year‑old office worker Lutfiye Sanli. “Even then, my credit card bill keeps growing.”
A nationwide survey by Istanbul‑based OWL Intelligence found more than half of all households are now in debt — many relying on credit cards or borrowing from relatives just to get through the month.
Pensioners are among the hardest hit.
“My pension went up at the start of the year, but electricity, rent and food rose faster,” said Mehmet Kaya, 63. “I still need help from my children to cover the essentials.”
Experts warn that even as inflation slows, the damage has already been done. Prices today are dramatically higher than two or three years ago, and high interest rates — introduced to tame inflation — have pushed more families into relying on credit.
“Disinflation doesn’t mean prices are falling,” said finance professor Senol Babuscu. “It just means they’re rising more slowly. Households are still facing a much higher price level.”
He warned that relying on minimum credit‑card payments risks trapping families in a “debt spiral” that could take years to unwind.