Turkey Inflation Rises Slightly In October
Inflation remained above expectations as food, transport and housing costs kept rising, the Turkish Statistical Institute said.
- On Tuesday, the Turkish Statistical Institute reported that consumer price inflation rose to 29.77% in October, climbing from 29.73% in September.
- This marginal increase reversed a months-long easing trend where inflation had reached its lowest level in nearly five years before rebounding.
- The actual 29.77% rate exceeded analyst expectations of 29.56%, driven by clothing surging 12.58% and food prices rising 3.5% during the month.
- Housing costs led sectoral increases, growing 40.24%, while transportation charges rose 36.39%, reflecting geopolitical pressures on energy and commodity prices.
- Food and non-alcoholic beverage prices accelerated to 27.73%, while information and communication costs increased 27.33%, signaling persistent sectoral pressures ahead.
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The decline came after official statements showing a rise in annual inflation rate of 29.8% last October, compared with 29.7% in September, exceeding the expectations of analysts of 29.5%. The Turkish Institute of Statistics announced that consumer prices had risen by 2.58% on a monthly basis, compared with 1.84% in September, driven by an increase in prices of clothing, footwear, foodstuffs and non-alcoholic beverages. The data reflected Turkis…
Turkey Inflation Rises Slightly In October
Turkey's consumer price inflation increased marginally in October after easing to the lowest level in nearly five years. Consumer price inflation rose to 29.77 percent in October from 29.73 percent in September. The annual price growth in food and non-alcoholic beverages accelerated to 27.73 percent from 27.62 percent. Producer price inflation rose to 27.41 percent from 27.38 percent.
Cumhuriyet
HaberXThe Turkish Statistical Institute (TÜİK) has released inflation data for October. Following the 1.84% inflation figure announced in September, the October inflation numbers were closely watched by economic circles.
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