Türkiye Annual Inflation Drops Below 30 Percent in September

The Turkish Statistical Institute reported Monday that Türkiye's annual inflation rate fell to 29.73% in September. This marks the first time the figure has dropped below 30% since November 2021 and represents the fourth consecutive month of decline. The September figure is lower than the August rate of 31.51% and came in below market expectations of 30.3%.

On a monthly basis, the consumer price index rose 1.84%. Price movements varied by sector, with food and non-alcoholic beverage prices falling 0.20% month-over-month. Conversely, costs for transportation and housing increased by 2.79% and 2.71%, respectively.

Annual data shows that housing prices experienced the sharpest increase among major components at 39.99%. Transportation costs followed at 35.10%, while food prices rose by 27.62% over the year.