Türkiye’s annual inflation eased for the fourth month in a row to 55.18 percent in February, the lowest level in the past 12 months.
Consumer prices registered a month-on-month growth of 3.15 percent, while the producer price index eased to its lowest level in 15 months by rising 76.61 percent annually, according to the Turkish Statistical Institute.
Inflation in Türkiye hit almost 85.5 percent, a 24-year high, in October last year after rising for 17 months, as Turkish President Recep Tayyip Erdogan supports low-interest rates in the hope of boosting economic growth and employment.
On Feb. 23, Türkiye’s central bank delivered an interest rate cut from 9 percent to 8.5 percent despite high inflation and a devastating earthquake that hit Türkiye on Feb. 6.
