Turkey's consumer price inflation saw its fourth consecutive month of easing in September, reaching its lowest point in over a year, according to recent data from the Turkish Statistical Institute released on Thursday. This deceleration was observed across a broad range of categories.
In September, the consumer price index rose by 43.98% year-over-year, a significant decrease from the 51.97% increase recorded in August. Economists had anticipated a reduction, predicting a 48.3% inflation rate. This marks the lowest inflation rate since July 2023 when the index had risen by 47.83%.
Examining specific categories, the annual growth in prices for food and non-alcoholic beverages slowed to 43.72% from 44.88%. Similarly, transportation-related inflation decreased to 26.6% from 28.96%. Yet, housing costs surged the most, with a notable increase of 97.87%.
On a month-to-month basis, consumer prices rose by 2.97% in September, following a 2.47% rise in June.
Separate statistics from the office highlighted that producer price inflation reached a 42-month low, falling to 33.09% in September, compared to 35.75% in the previous month. Meanwhile, monthly producer prices increased by 1.37%, down from a 1.68% rise in August.
