Türkiye’s annual inflation slows to 29.73% in September

Türkiye's annual consumer inflation stood at 29.73% in September, below market expectations of 30.3%, according to official figures released on Monday.

Consumer prices rose 1.84% month-on-month, the Turkish Statistical Institute (TurkStat) said.

Food and non-alcoholic beverage prices, one of the largest components of the consumer price index, fell 0.20% from the previous month. Transportation prices increased 2.79%, while housing, water, electricity, gas and other fuel costs rose 2.71%.

Transportation contributed 0.49 percentage points to monthly inflation and housing added 0.33 percentage points. Food prices reduced the monthly reading by 0.05 percentage points.

On an annual basis, food and non-alcoholic beverage prices rose 27.62%, transportation costs increased 35.10%, and housing prices climbed 39.99%.

These groups contributed 6.73, 5.96 and 4.84 percentage points, respectively, to annual inflation.

The core C index, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, increased 28.70% annually and 2.14% monthly.

The B index, which excludes unprocessed food, energy, alcoholic beverages, tobacco and gold, rose 29% annually and 2.01% month-on-month.

Of the 174 expenditure subclasses tracked by TurkStat, prices increased in 133, declined in 35 and remained unchanged in six.