Financial News: Turkey Inflation Eases To 32.87%, Lowest In Nearly

Turkey Inflation Eases To 32.87%, Lowest In Nearly 4 Years

(RTTNews) - Turkey's consumer price inflation eased further in October to the lowest level in almost four years, figures from the Turkish Statistical Institute showed on Monday.

Consumer price inflation softened to 32.87 percent in October from 33.29 percent in September. This was the lowest rate since November 2021, when prices had risen 21.31 percent. The rate was forecast to slow to 33.20 percent.

Inflation based on food and non-alcoholic beverages moderated to 34.87 percent from 36.06 percent. Similarly, the annual price growth in housing and utilities slowed to 50.96 percent from 51.36 percent. Meanwhile, inflation based on transportation rose to 27.33 percent from 25.3 percent.

On a monthly basis, consumer prices rose 2.55 percent in October, following a 3.23 percent increase in the previous month.

Another report from the statistical office showed that producer price inflation rose to a 9-month high of 27.0 percent in October from 26.59 percent a month ago.

Prices of mining and quarrying climbed 31.79 percent, and manufacturing reported a 26.91 percent rise. Producer prices of electricity, gas, steam, and air conditioning grew 24.31 percent and surged 56.26 percent for water supply.

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