Inflation in Turkey rose higher than anticipated in September, with the Turkish Statistical Institute (TurkStat) reporting a 2.97% increase compared to the previous month, and 49.38% compared to the same month last year. Economists surveyed by the state-run Anadolu Agency (AA) had predicted a 2.09% rise.
The largest monthly increase was seen in education costs, up 14.21%, followed by alcoholic beverages and tobacco, housing, and clothing. Communication was the only sector to see a decrease, dropping by 0.88%.
TurkStat has continued not to publish a detailed price list, last seen in April 2022, despite a court verdict that became final in April.
Meanwhile, the independent Inflation Research Group (ENAG) reported a higher monthly inflation of 5.34%, with a 12-month rise of 88.63%.
The rising inflation dampens expectations of a central bank interest rate cut in the near future. (VK)