Turkey’s inflation slightly eases in October, remains above 60%
Following three months of increases, Turkey’s year-on-year inflation slightly eased last month.
ANKARA — Turkey’s year-on-year inflation slightly eased to 61.36%, according to official data released on Friday amid ongoing monetary tightening policies.
The modest dip in Turkey's annual inflation came after three months of increases. Following an eight-month downtrend, largely due to a favorable base effect from the corresponding month of the previous year, inflation began to rise again in July, hitting 61.53% in September.
Data released by the Turkish Statistical Institute (TUIK) showed monthly inflation at 3.43%, with clothing, housing, and restaurant and hotel baskets as the top three drivers.
On Thursday, the Central Bank raised its year-end inflation projection to 65%, revising its forecast upward from July by 7 percentage points..
