October cost of living rises 1.07%; annual increase reaches 34.99%

The cost-of-living rate in the TRNC (KKTC) was announced as 1.07% for October. According to data from the Statistics Institution (İstatistik Kurumu), prices rose by 29.52% compared with December of the previous year and by 34.99% compared with October last year.

Monthly data showed price movements in different directions across expenditure groups. Clothing and footwear recorded the highest increase among the main expenditure groups, at 14.09%. Prices in the restaurants and hotels group, meanwhile, fell by 6% compared with the previous month.

Increases in food and transport

Monthly price rises in food and non-alcoholic beverages, a key household expenditure, and in transport were 2.72% and 2.68%, respectively. The increase in the communications group was higher than in both, at 4.20%.

Among the other main expenditure groups, prices rose by 1.85% for health; 1.33% for furniture, household equipment and household maintenance; and 0.84% for housing, water, electricity, gas and other fuels. Increases were also recorded in alcoholic beverages and tobacco (0.50%), miscellaneous goods and services (0.34%), recreation and culture (0.28%) and education (0.04%).

Prices rose for 431 item varieties

The average price of 431 item varieties included in the index rose compared with the previous month, while prices fell for 133 varieties. The number of item varieties recording price increases therefore exceeded those recording decreases.

Among individual products and services, cucumbers recorded the highest increase, at 84.22%. School bus fares and national lottery tickets ranked among the top three, each rising by 50%. The sharpest decreases were recorded for pomegranates, down 58.18%; lemons, down 40.34%; and lettuce, down 35.31%.