Turkey’s Inflation Falls Below 30% for First Time Since 2021

Turkey’s annual inflation rate fell to 29.73% in September, reaching its lowest level since November 2021.

The decline brought inflation below the 30% threshold for the first time since 2021, marking a milestone in the slowdown in price growth.

The latest reading strengthened expectations of an interest rate cut at the Turkish central bank’s meeting scheduled for this month.

While the lower annual rate signals that prices are rising more slowly, it does not mean they are falling. The central bank’s upcoming decision will be closely watched for its response to the easing inflation figure.