Turkey annual inflation slows to 29.73% in September

Turkey’s annual inflation rate slowed to 29.73 percent in September, marking the first time it has fallen below 30 percent since November 2021. According to data from the Turkish Statistical Institute (TurkStat), consumer prices rose 1.84 percent compared to August.

Significant price increases were observed in higher education, which rose by 25.79 percent, and accommodation services at universities and boarding schools, which increased by 19.99 percent. Other notable rises included school shuttle services (16.04 percent), diesel (12.93 percent), and gasoline (11.55 percent). Conversely, citrus fruits saw a price decrease of 24.41 percent, and international passenger air transport fell by 12.96 percent.

Treasury and Finance Minister Mehmet Şimşek noted that disinflation is spreading across most categories, though energy costs remain a pressure point. However, political figures have criticized the data, with Yeni Party Group Deputy Chairman Gökhan Günaydın stating that Turkey remains among the five countries with the highest inflation globally. He also highlighted a growing housing crisis, noting that in regions like Van, rent prices for certain apartments are exceeding the monthly minimum wage.