Electricity and natural gas increases reflected in TUIK’s basket

TURKSTAT updated the load of the main clusters in the inflation account. Accordingly, the weight of the change in housing prices in the CPI account was increased from 14.12 percent to 16.62 percent. According to TUIK’s assumption, households spend on electricity and natural gas…

The Turkish Statistical Institute (TUIK) has updated the inflation basket and subject burdens with the January inflation data. Accordingly, in 2023, the cluster with the highest increase in load was housing. The load of the housing cluster, which was 14.1 percent last year, increased by 2.5 points to 16.6 percent. The high increase in electricity and natural gas tariffs was decisive in this change. According to TURKSTAT’s assumption, the share of households in the total amount spent on electricity and natural gas increased from 4.4 percent to 6.5 percent.

TurkStat, which stopped publishing prices on an item basis in June last year, has also stopped publishing the weight of individual items in the basket as of 2023. Instead, TURKSTAT published the list of main cluster and basic heading scales.

Three clusters make up 57 percent of the basket

As in previous years, the highest share of the Turkstat basket was taken by the food and non-alcoholic beverages cluster with 25.43 percent. Housing and transportation were the other spending clusters with the largest share. Thus, the load of these three clusters in the basket exceeded 57 percent.

The number of topics followed decreased

According to the methodology document published by TURKSTAT, prices will be collected in 404 subjects in CPI. This number was 409 in the coming year. In this period, the only item that entered the basket was women’s tights, and the items that came out of the basket were cocoa powder drink, cotton fabric, children’s shirts, plastic kitchenware, hospital bed price and other cultural activities.