Annual inflation rates fell below 30 percent in September

According to data announced by the Turkish Statistical Institute, the Consumer Price Index increased below market expectations in September. Annual inflation fell below the 30 percent threshold for the first time since November 2021.

September Consumer Inflation

According to Turkish Statistical Institute data, the Consumer Price Index increased by 1.84 percent in September, remaining below market expectations.

The annual inflation rate, which was 31.51 percent in August, declined to 29.73 percent in September, falling below 30 percent for the first time since November 2021.

Food and Other Expenditure Groups

Food inflation in September decreased by 8.4 points compared to the same period of the previous year, dropping to 27.6 percent on an annual basis.

While annual rent inflation fell by 27.8 points compared to the same month of last year to 41.3 percent, the new rent increase rate was calculated as 31.49 percent based on September inflation data.

Producer Prices and Markets

The Domestic Producer Price Index increased by 2.07 percent monthly in September, while annual producer inflation declined to 27.38 percent, the lowest level since January.

The downward trend in inflation data and figures below expectations also reinforced expectations regarding an interest rate cut by the Central Bank.

Evaluations by Economic Administration

Vice President Cevdet Yılmaz and Minister of Treasury and Finance Mehmet Şimşek made evaluations regarding the process and emphasized that the disinflation process and downward trend continue with determination.