Key facts
- Monthly consumer inflation rose to 2.6% in October from 1.8% in September, TurkStat data showed.
- The October figure came in above market expectations of about 2.2% monthly inflation.
- Food prices rose 3.5% and clothing prices 12.6% in October from September, the data showed.
- Energy prices rose 4.9% over the month, and transportation prices 2%, the data showed.
- Housing costs were 2.8% higher in October than in September, the data showed.
Turkish consumer prices rose 2.6% in October from September, accelerating from 1.8% the previous month, data from the Turkish Statistical Institute showed on Tuesday. The monthly reading came in above market expectations of about 2.2%, according to the figures reported by Turkiye Today.
Food and clothing prices were the largest contributors to monthly price growth, rising 3.5% and 12.6% respectively from September, the data showed. Energy prices rose 4.9% over the month, transportation prices 2% and housing costs 2.8%.
The report said annual inflation stood at 27.8% in October, a figure it described as slightly higher than a month earlier. The acceleration raised questions about the timing and size of a second straight interest-rate cut.