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2025-11-01 18:39:47
[Inflation Rises in Turkey's Largest City] Retail inflation rose in Istanbul, indicating that price pressures remain high ahead of Monday's release of national October inflation data. The country's commercial capital saw a 3.31% month-on-month increase in inflation in October, up from 3.19% in September. Year-on-year inflation rose to 40.84% from 40.75% in September. These figures suggest that the country faces challenges in achieving its year-end inflation target of 25% to 29%, driven by factors such as drought pushing up prices. On Friday, Turkey's finance minister stated that achieving this target "looks difficult." However, he also indicated that the government remains committed to its inflation-reducing plan, and the recent deterioration in inflation expectations is "temporary."
