Turkey’s annual inflation slowed to 31.65% in November from 32.87% in October, the Turkish Statistical Institute said Wednesday, marking further easing in price pressures.
Producer prices rose 0.84% on the month, with annual producer inflation at 27.23%. Food and non‑alcoholic beverages climbed 27.44% year on year, transportation costs rose 29.23%, and housing posted the steepest increase at 49.92%.
Turkey has struggled with high inflation since a 2018 currency crisis, eroding household and business purchasing power. The central bank, which sharply raised its benchmark rate from 8.5% in June 2023 to 50% by March 2024, began cutting rates in December 2024. Following a 100‑basis‑point reduction on Oct. 23, the policy rate stands at 39.5%.