Hotel Prices in Turkiye Up More Than 70% Over Past Year
Restaurant kitchen staffers have a break in Istanbul, Turkey, Friday, Jan. 13, 2023. Inflation in Turkey showed a sharp drop in December thanks mainly to a favorable base effect — a development that could help President Recep Tayyip Erdogan’s standing before an election, but is unlikely to bring relief to households suffering from a cost of living crisis. 
InternationalIndiaAfricaMOSCOW (Sputnik) – The cost of staying in Turkiye’s hotels, as well as prices in cafes and restaurants, rose by 70.73% year-on-year, the data of the Turkish Statistical Institute (TUIK) showed on Monday. “Hotels, cafes and restaurants with 70.73% was the main group where the highest annual increase realized,” TUIK said in a press release on the website, adding that the price of accommodation in Turkiye’s hotels grew some 3.85% compared to the previous month. According to the press release, prices of food and non-alcoholic beverages grew by 67.89%, and healthcare costs increased by 64.68% over the same period. “A change in general index was realized in CPI (2003=100) on the previous month by 2.29%, on December of the previous year by 12.52%, on same month of the previous year by 50.51% and on the twelve months moving averages basis by 70.20% in March 2023,” TUIK said. The Central Bank of Turkiye expects inflation to be 22.3% by the end of 2023.
