Turkish annual inflation fell to 49.38% in September while the monthly rate was much higher than expected at nearly 3%, setting the stage for later than expected interest rate cuts by the central bank.

Turkey’s annual inflation likely dropped below the central bank’s 50% key interest rate in September, in what would be the first time in three years that official borrowing costs are above zero when adjusted for prices.

Turkey’s annual inflation rate slowed to 49.4% in September 2024, down from 52% in August, according to data released by TurkStat. This marked a significant decrease but was still higher than economists’ expectations,

ISTANBUL (Reuters) - Turkey's annual inflation is expected to continue its decline in September and fall below the central bank's policy rate for the first time since 2021, a Reuters poll showed on Monday.