Inflation in Turkey eased in October, falling to 32.9% year-on-year from 33.3% in September, reaching its lowest level since November 2021, according to official data released on Monday.
After peaking above 75% in May 2024, Turkey’s annual inflation has been steadily declining © Mena Today
Inflation in Turkey eased in October, falling to 32.9% year-on-year from 33.3% in September, reaching its lowest level since November 2021, according to official data released on Monday.
On a monthly basis, inflation stood at 2.6%, after a brief uptick in September that interrupted fifteen consecutive months of decline.
Despite the overall slowdown, sharp price increases persist in several key sectors. Education costs surged by 65.7% year-on-year, while housing prices rose by 51% and food prices by 34.9%. On a monthly basis, food (+8.4%), housing (+7.8%), and transportation (+4.3%) recorded the highest increases.
After peaking above 75% in May 2024, Turkey’s annual inflation has been steadily declining. However, the official figures remain disputed by independent economists from the Inflation Research Group (ENAG), who estimate the actual annual inflation rate at around 60%.
The divergence in assessments reflects ongoing concerns about transparency and the accuracy of official economic indicators in Turkey, as the country continues to grapple with economic instability and the impact of monetary policy adjustments.
By Enok Distirb
Turkey on Tuesday called on Russia and Ukraine to take measures to ensure navigational safety in the Black Sea after a drone attack hit a Turkish-owned vessel and seriously injured three crew members near Russia's Novorossiysk port.
President Donald Trump warned Monday, in a Truth Social post, that the US naval blockade on Iran would only be lifted in the event of a "deal" or "total surrender."
Iran said on Monday there were no talks under way with the United States and no plans for any meetings, contradicting U.S. President Donald Trump, who had cited talks he said would take place that afternoon as justification for calling off attacks.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.