Türkiye’s annual inflation fell to 32.87% in October — the lowest since November 2021 and below the market forecast of 33.24%

The better-than-expected figure may strengthen the Central Bank of the Republic of Türkiye’s decision to continue its rate-cutting cycle cautiously; the policy rate currently stands at 39.5% after a 100-basis-point cut in October.

Monthly inflation also fell from 3.23% in September to 2.55% in October, marking significant progress from the inflation peak of more than 75% in May 2024.

• Food and non-alcoholic beverages, with annual inflation of 34.87%, remain a key source of price pressure, while housing costs rose more than 50% year on year and accounted for more than 16 percentage points of overall inflation.