Türkiye's annual inflation at 32.87 pct in October, hitting 47-month low
ANKARA
Türkiye's annual inflation rate was at 32.87 percent in October, reaching its lowest level for the last 47 months.
The official figures from the Turkish Statistical Institute (TÜİK) showed on Nov. 3 that the inflation rate has been falling continuously for the last 17 months, with the exception of one month.
“After standing at 64 percent and 65 percent at the end of 2022 and 2023 respectively, inflation fell to 44 percent in 2024 and to 32.9 percent in October 2025,” said Finance Minister Mehmet Şimşek, commenting on the latest numbers from TÜİK.
Temporary fluctuations can occur during the disinflation process, Şimşek wrote on X, adding that although a slowdown has been observed recently, the overall picture remains unchanged.
“Thanks to supportive global and domestic conditions, we expect disinflation to continue,” he said.
“In pursuit of our goal of lasting price stability, we are resolutely implementing our policies and taking structural steps to reduce supply-side pressures on inflation,” Şimşek reiterated.
One year ago, the annual inflation was at 48.58 percent, and 61.36 percent in October 2023.
Meanwhile, market expectations for the month of October were above 33 percent.
Consumer prices, in the three main expenditure groups with the highest weight, increased by 34.87 percent for food and non-alcoholic beverages, 27.33 percent for transportation and 50.96 percent for housing annually.
The contributions of these main groups to the annual change were 8.44 percent for food and non-alcoholic beverages, 4.34 percent for transportation and 7.75 percent for housing.
On a monthly basis, consumer prices climbed 2.55 percent, with the highest increases affecting food, which rose 8.4 percent, housing was up 7.8 percent and transportation rose 4.3 percent.
In September, consumer prices had advanced 3.23 percent month-on-month.
Clothing prices rose 12.42 percent in October compared with September, bringing the annual increase for this category to 7.98 percent.
Restaurant and hotel prices climbed 1.34 percent month-on-month and 33.78 percent year-on-year, according to data from TÜİK.
The government’s medium-term program aims to reduce annual inflation to 9.7 percent by the end of 2026 and further to 7 percent by the end of 2027.
