Turkey’s annual inflation rose to 33.29% in September, the first increase in over a year, complicating the central bank’s plan to continue cutting interest rates.
Monthly inflation jumped to 3.23%, driven by higher food, housing and education costs. Analysts warned the spike could derail the government’s year-end target of 28.5% and pressure the bank’s easing cycle.
The central bank cut rates to 40.5% last month, but economists say further reductions may be risky. The next policy meeting is set for Oct. 23.
