In a significant development, Turkey's Consumer Price Index (CPI) excluding energy, food, beverages, tobacco, and gold has cooled to 2.8% in October 2024, down from the previous 3.6% in September. This development, reported on November 4th, 2024, indicates a welcome deceleration in the inflation rate from one month to the next.
The month-over-month comparison reflects the positive impact of economic policies implemented to stabilize rising prices and restore consumer confidence. The drop in the CPI index showcases the effective measures against inflationary pressure, promising reprieve not only to policymakers but also to businesses and consumers concerned about the cost of living in Turkey.
This shift marks a cautiously optimistic turn for the Turkish economy, as it aims to maintain this trajectory and achieve stability in the coming months. Economic stakeholders will be closely monitoring further data releases to confirm if this trend continues, potentially signaling a period of broader financial recovery and balance for Turkey.
