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Turkey Inflation Eases to Lowest Level Since 2021
- On Monday, the Turkish Statistical Institute reported annual inflation slowed to 32.87% in October, with consumer prices rising 2.55% month-on-month.
- Rising costs in basic categories pushed prices higher, with food up 8.4%, housing 7.8% and transport 4.3%, while President Recep Tayyip Erdogan's rate cuts sustained double-digit inflation prompting Central Bank of the Republic of Turkey policy adjustments last month.
- Among spending categories, housing topped the list with an annual change of 50.96%, followed by food and non-alcoholic beverages at 34.87% and transportation at 27.33%, while the Turkish Statistical Institute did not publish the detailed item price list for October despite a court ruling.
- Finance Minister Mehmet Simsek warned it appears difficult to hit the 25-29% year-end inflation forecast as Turkey's domestic producer price index rose 1.63% month-on-month to an annual 27%.
- Market forecasts had expected a higher print, and the Inflation Research Group ENAG disputes the 32.87% figure, estimating 50.960% annual inflation, with central bank minutes warning of risks to disinflation.
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24 Articles
24 Articles
Turkey inflation dips more than expected to less than 33%
Turkish inflation eased to 32.87% annually and to 2.55% monthly in October, both below expectations, according to official data on Monday that could reinforce the central bank's decision to slow but not stop its rate-cutting cycle.
·United Kingdom
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Coverage Details
Total News Sources24
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
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