Inflation declined to 8 percent as Treasury and Finance Minister Berat Albayrak pointed out a few months ago. Although consumer inflation increased by 2 percent in October, annual inflation fell to 8.55 percent! On the other hand, the citizens' pocket tax, fees and penalties as a result of the announced inflation in October for 2020 as a result of 22.58 percent hike. Inflation fell to 8 percent, the citizen's penalty increased by 22 percent!
TO WHOM THE INFLATION IS FALLING?
Turkey Statistical Institute (TSI) has announced the October inflation data. According to TURKSTAT, inflation rose by 2 percent in October, while annual inflation fell from 9.26 percent to 8.55 percent due to the base effect. Considering the 12-month averages as of October, consumer prices increased by 16.81 percent.
OUR SHARE 22 PERCENT!
D-PPI, which is the basis of the revaluation rate determined by the Ministry of Treasury and Finance, increased by 22.58 percent at the end of October compared to 12-month averages. This rate of increase, tax, fees and penalties amounts to 22.58 percent in 2020 means that will increase.
CITIZEN'S POCKET WILL BURN!
Revaluation rate of 22.58 percent after the increase in the lowest value of 1300 cc 1 to 3 years of the motor vehicle Tax of 861 liras to 55 thousand liras will be 861 liras. MTV of 1300-1600 engine volume of vehicles with 1,499 liras to 1,837 liras will rise. The penalty for passing at red light 235 liras 288 liras, 132 liras will be the seat belt penalty. 22.58 percent from the beginning of the year with a raise of 500 thousand liras from abroad instead of a thousand 838 liras will pay a thousand fees. Four years and over the passport fee of 812 liras to 995 liras, driving license fees will be from 613 liras to 751 liras.
While inflation increases, annual inflation falls! In October, consumer inflation increased by 2 percent, while annual inflation fell from 9.26 percent to 8.55 percent due to the base effect. Food inflation, which had been low in the past months due to seasonal effects, showed an upward trend in October with an increase of 1.65 percent. Inflation, saving the day iyle with the effect of base, signaled danger for the future!
Turkey Statistical Institute (TSI) announced the October inflation data. According to TURKSTAT, inflation increased by 2 in October, while annual inflation fell from 9.26 percent in September to 8.55 percent in September. Producer prices rose by 0.17 percent in October.
Considering the 12-month averages as of October, consumer prices increased by 16.81 percent and domestic producer prices increased by 22.58 percent.
FOOD PRICES TURNED DIRECTION UP
As of the main expenditure groups, in October 2019, there was an increase of 3.55 percent in housing, 1.65 percent in food and non-alcoholic beverages, 1.43 percent in communication and 1.17 percent in transportation. Among the main expenditure groups, only entertainment and cultural groups decreased by 0.59 percent in October 2019 among the index groups.
Food prices decreased by 1.18 percent in May, 1.65 percent in June, 1.11 percent in July, 0.77 percent in August and 0.60 percent in September. Food, which is one of the most important items, increased by 1.65 percent in October, signaled an increase for the coming months.
ALCOHOL AND TOBACCO IN THE ANNUAL INCREASE
The highest annual increase was in the group of alcoholic beverages and tobacco with 43.60 percent. CPI, health, 14.24 percent compared to the same month of the previous year, 14.20 percent of education, restaurants and hotels 13.71 percent and 13.43 percent increase in various goods and services with other main expenditure groups were high.
OCTOBER PERIOD CHAMPIONS MEN SWEATER
On the basis of consumer prices, the highest price increase in October compared to the previous month was in the men's sweater with 43.70 percent. Price increase in men's sweater, children's sweater with 40.46 percent, followed by a woolen men's coat with 38.94 percent. Last month, the highest price drop was 27.66 percent in domestic tours for a week or more. Lemon with 25.23 percent, followed by carrots with 15.38 percent.
TAXES AND DUTIES WILL BE RISKED TO 22.6 PERCENT
On the other hand, the D-PPI, which is the basis of the revaluation rate determined by the Ministry of Treasury and Finance, increased by 22.58 percent at the end of October compared to the 12-month averages. The laws on various taxes and duties are foreseen to increase the amount of taxes, fees and penalties as much as the revaluation rate each year.