Turkey's annual inflation falls to 29.73% in September, ending a five-year streak above 30%

Turkish authorities reported that the annual consumer price index fell to 29.73% in September, a decline from 31.51% in August and the first sub-30% figure since November 2021. The monthly CPI registered a 1.84% rise, driven by a 2.79% increase in transportation costs and a 2.71% rise in housing, water, electricity, gas and other fuels. Food and non-alcoholic beverage prices slipped 0.20% month-over-month, reducing the overall monthly inflation reading.

On a yearly basis, food prices were up 27.62%, transport 35.10% and housing 39.99%, contributing significantly to the inflation total. The core CPI, which omits energy and food items, climbed 28.70% year-on-year, while the broader B index rose 29% annually.