Turkey's annual inflation rate dropped to 29.77% in October, marking the first time it has fallen below 30% in five years, according to data released by the Turkish Statistical Institute. While the overall rate decreased, consumer prices still rose by 2.58% month-over-month, keeping Turkey within the top five countries globally for high annual inflation alongside nations like Venezuela and Iran. Education experienced the steepest annual price hike at 48.86%, followed by healthcare and housing costs, which significantly impacted the broader cost of living. Monthly inflation was driven largely by a sharp surge in fresh produce prices, particularly leafy vegetables, which saw increases exceeding 70% from the previous month. Energy costs continued to climb, with diesel prices up nearly 77% year-on-year, contributing substantially to the overall inflationary pressure.
Bias read (Center): The article relies exclusively on statistical data from the official statistical institute and presents global comparisons without employing loaded language or omitting relevant economic context.


