Turkey Inflation Eases To 49.38%, Lowest 14 Months

(RTTNews) - Turkey's consumer price inflation eased for the fourth straight month in September to the lowest level over a year amid a slowdown in costs for a wide number of categories, figures from the Turkish Statistical Institute showed on Thursday.

The consumer price index rose 43.98 percent year-over-year in September, slower than the 51.97 percent surge in August. Economists had expected inflation to ease to 48.3 percent.

Further, this was the weakest inflation since July 2023, when prices had risen 47.83 percent.

Among categories, the annual price growth in food and non-alcoholic beverages eased to 43.72 percent from 44.88 percent. Similarly, inflation based on transportation moderated to 26.6 percent from 28.96 percent. Housing costs grew the most by 97.87 percent.

On a monthly basis, consumer prices increased 2.97 percent in September, after a 2.47 percent gain in June.

Separate data from the statistical office showed that producer price inflation also eased to a 42-month low of 33.09 percent in September from 35.75 percent in the prior month. Monthly, producer prices moved up 1.37 percent versus a 1.68 percent gain in August.