Inflation in Türkiye Eases to 49.38 Percent, below Policy Rate
Monthly inflation for September stood at 2.97 percent, while the producer price index (PPI) also showed signs of deceleration, according to data from the Turkish Statistical Institute.
The annual increase in producer prices dropped to 33.09 percent, with the monthly producer inflation rate recorded at 1.37 percent in September.
In comparison, August saw an annual inflation rate of 51.97 percent, with a monthly rate of 2.47 percent.
The government's Medium-Term Program projects inflation to decline to 41.5 percent in 2024 and further drop to 17.5 percent by the end of 2025.
Türkiye has been struggling with rising inflation and one of the worst cost-of-living crises in its history. Since June 2023, the country has tightened its monetary policy by hiking its key interest rate from 8.5 percent to 50 percent.
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