Turkey’s Inflation Eases to 32.87% in October, Beating Market Forecasts
Turkey’s annual inflation rate eased to 32.87% in October, down from 33.29% in September, according to data published Monday by the Turkish Statistical Institute (TÜİK).
On a monthly basis, consumer prices rose 2.55%, marking a slower increase than September’s 3.23%. Both the annual and monthly inflation figures came in below expectations, as economists had forecast a 33.24% annual rate and 2.83% monthly rise.
The October inflation reading was mainly influenced by higher food and clothing prices, though the overall increase was more moderate than anticipated. This represents a shift from August and September, when inflation exceeded projections and prompted the Central Bank of Turkey to pause its monetary easing cycle.
The report also showed that the domestic producer price index (PPI) rose 1.63% month-on-month in October, translating into an annual increase of 27%.
The softer inflation data could ease pressure on policymakers as they continue balancing price stability, economic growth, and currency volatility heading into year-end.
