Live Updates > Live Update Details
2026-11-03 16:16:25
[Turkey's October Inflation Rises More Than Expected, Casting Doubts on Further Interest Rate Cuts This Year] ⑴ Turkey's annual inflation rate rose to 29.77% in October 2026, higher than the market expectation of 29.56%, and a rebound from the near five-year low of 29.73% in the previous month. ⑵ The latest data casts doubt on the prospect of another interest rate cut before the end of the year. Previously, the Central Bank of Turkey lowered its benchmark interest rate by 100 basis points to 36% in October, the first rate cut since January, citing weak demand and slowing economic activity. ⑶ However, the central bank will have access to November's inflation data before making its next policy decision. ⑷ By category, food and non-alcoholic beverage prices rose faster (27.73%, compared to 27.62% in September), housing (40.24%, compared to 39.99% in September), and transportation (36.39%, compared to 35.1% in September). (5) In contrast, the cost increase for alcoholic beverages and tobacco slowed (28.73%, compared to 31.6% in September), as did the increases for various goods and services (20.86%, compared to 21.88% in September). (6) On a month-on-month basis, the consumer price increase rose to a six-month high of 2.58%, compared to 1.84% in September.
