Türkiye's annual consumer inflation eases to 61.36% in October

By Tuba Ongun

Türkiye's annual inflation unexpectedly eased to 61.36% in October, according to official data released on Friday.

The figure fell from a nine-month high of 61.53% in September, according to data released by Turkish Statistical Authority (TurkStat).

An Anadolu survey had forecast the annual consumer price index to increase to 62.36%.

Among the main groups, hotels, cafes and restaurants saw the largest annual price surge with 94.12%, while housing posted the lowest with 25.98%.

Food prices gained 71.99% year-on-year in October.

On a monthly basis, Türkiye's consumer prices index increased 3.43% in October, slowing from a 4.75% hike in September.

Türkiye's Central Bank on Thursday revised its year-end inflation forecast upwards for 2023 to 65%, mainly led by higher food and energy import prices.