The central bank shocked the markets by dropping interest rates twice in the past two months despite the high prices, and official statistics released today, Monday, revealed that Turkish annual inflation rose to a new height reflecting the highest level in 24 years at 83. 45% in September.
Consumer prices increased 3.08 percent monthly, according to the Turkish Statistical Institute, vs a 3.
Consumer price inflation was anticipated to reach 8%, or 84. 63%, on an annual basis.
In September, the producer price index increased 4. 78% on a monthly basis and increased 151. 50% on an annual basis.
Turkey’s inflation rate exceeds 83%, the highest amount in 24 years.
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