Turkey’s consumer price index (CPI) rose at an annual rate of 85.5% in October, the highest level since June 1998, the country’s official statistics agency Turkstat said on Thursday. fair (3).
The result marks an acceleration after the rise of 83.3% in September. Analysts consulted by FactSet predicted that the indicator would rise to 85.6%.
In the monthly comparison, the Turkish CPI increased 3.5% in October compared to September, after an increase of 3.1% in September compared to October.
Despite the continued acceleration of inflation in Turkey, the country’s central bank maintains the policy of monetary relaxation, under pressure from Turkish President Recep Tayyip Erdogan. Last month, the institution cut the basic interest rate for the third consecutive time, to 10.50%, and indicated that it should end the cycle of cuts in November, with a further reduction of 150 basis points.
Source: CNN Brasil
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