July Inflation Rate Announced: What is the Rent Increase Rate for August?

The Turkish Statistical Institute (TÜİK) announced the Consumer Price Index (CPI) for July, with the 12-month average CPI rate being 31.90 percent. Based on this data, the rent increase rate for August was also set at 31.90 percent. The 12-month average CPI rate announced by TÜİK determines the maximum rent increase rate for houses and workplaces whose contracts expire in August. Therefore, homeowners who will renew their contracts this month can request a rent increase of 31.90 percent. The rent increase rate for housing is calculated based on the 12-month average CPI rate announced by TÜİK for the previous month.