Inflation in Turkey stands at 19.89% in October

The annual inflation in Turkey continues to increase. According to the Turkish Statistical Institute (TÜİK) in October it increased by 0.31 percentage points to 19.89% from 19.58% a month ago, while the figure was 11.89% in October 2020.

In September, the highest annual rise was seen in food and non-alcoholic beverages with 27.41%, hotels-cafes-restaurants with 25.53%, and furnishings and household equipment with 23.03%.

At the end of October, Turkey’s Central Bank raised its year-end inflation forecast to 18.4% for 2021, up from 14.1% in its previous report.