Breaking News: Turkey’s Inflation Data for October Announced by TUIK – Figures Lower Than Expectations

Inflation Comes in Lower Than Expected

In breaking economic news, Turkey’s October inflation data was released by the Turkish Statistical Institute (TÜİK). The Consumer Price Index (CPI) rose by 2.55% on a monthly basis and 32.87% year-over-year, coming in slightly below market forecasts. Economists had anticipated a 2.69% monthly increase and a drop in the annual rate to 33.05%.

For comparison, in September, inflation had exceeded expectations with a 3.23% monthly rise and an annual rate of 33.29%. The October data suggests a mild easing in price pressures despite ongoing cost challenges in key sectors.

Details from TÜİK: Consumer and Producer Price Indices

According to TÜİK, the CPI (2003=100) increased by 2.55% compared to the previous month, 28.63% since December of last year, 32.87% compared to the same month last year, and 37.15% based on twelve-month averages.

The Producer Price Index (PPI) also showed a moderate monthly rise of 1.63%, bringing annual producer inflation to 27%.

Housing Sees the Highest Price Increase

Among the main spending groups, housing showed the strongest annual increase with a 50.96% rise, followed by food and non-alcoholic beverages at 34.87%, and transportation at 27.33%. The impact of these sectors on annual inflation was highest in food (8.44%), housing (7.75%), and transportation (4.34%).

On a monthly basis, food prices rose 3.41%, transportation costs increased 1.07%, and housing prices were up 2.66%.

Core Inflation and Broader Price Trends

Core inflation, which excludes unprocessed food, energy, alcoholic beverages, tobacco, and gold, rose by 2.43% in October and 32.52% annually. This indicates that underlying price pressures remain persistent despite a slight slowdown in the overall rate.

Out of 143 main consumption categories, 118 recorded price increases in October, while 18 saw declines and 7 remained unchanged.

Economists’ 2025 Outlook

Economists expect the year-end inflation rate to settle around 31.93% as of October estimates, suggesting cautious optimism that the recent moderation in prices could extend into the coming months.

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