Economy and macroUpdated November 3
Turkey’s annual inflation edges up in October
Turkey’s annual consumer-price inflation rose to 29.77% in October from 29.73% in September, according to official figures from the Turkish Statistical Institute cited by the Saudi Press Agency. The reading exceeded the 29.56% analyst expectation cited in SPA’s report, while monthly inflation accelerated to 2.58% from 1.84%. The figures do not determine the next policy move: on October 22, the Central Bank of the Republic of Türkiye cut its policy rate from 37% to 36%, saying future steps would be decided prudently on a meeting-by-meeting basis, with the inflation outlook in view. Asharq Business with Bloomberg reports that analysts do not expect October’s reading to change the rate-cut trajectory and still expect another cut before year-end. That is an analyst forecast, not an announced central-bank decision.
Coverage started November 3