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Turkey inflation and central bank economic reports
Turkey’s inflation data for October shows a monthly consumer price increase of 2.58% and an annual inflation rate of 29.77%. The Central Bank of the Republic of Turkey (TCMB) reported that energy prices rose by 4.92% due to increases in fuel and gas, while unprocessed food prices also saw significant upward pressure. Annual inflation in the housing, water, electricity, gas, and other fuels category reached 40.24%.
The TCMB reported that the real effective exchange rate index rose by 2.66 points to 107.76 in October, marking the highest level since February 2020. Meanwhile, the banking sector's total credit volume reached 28.22 trillion lira as of October 30, while total deposits decreased by 0.32% to 34.1 trillion lira.
In the United Kingdom, the Bank of England raised its policy interest rate by 25 basis points to 4%, the first increase since August 2023. This decision follows rising inflation in the UK, which reached 3.5% in September, driven in part by energy price volatility linked to Middle East conflicts.
Entities
Bank of England · Central Bank of the Republic of Turkey · Hilmi Yılmaz · Nurullah Çiftçi · Turkey · Turkish Statistical Institute · Türkiye Cumhuriyet Merkez Bankası · Türkiye Kamu-Sen · Türkiye İstatistik Kurumu · United Kingdom
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 12 SOURCES] Consumer prices increased by 2.58% in October compared to the previous month. www.bizimsivas.com.tr · www.bomba32.com · gaziantepsabah.com · www.yorumla.net · www.malatyaguncel.com · +6 more
- [● 2 SOURCES] The real effective exchange rate index reached its highest level since February 2020. www.gazetearena.com · www.cumhuriyet.com.tr
- [● 11 SOURCES] The annual inflation rate in Turkey reached 29.77% in October. www.bizimsivas.com.tr · www.bomba32.com · gaziantepsabah.com · www.yorumla.net · www.malatyaguncel.com · +5 more
- [○ 1 SOURCE] Total banking sector credit volume reached 28.22 trillion lira as of October 30. www.haberaktuel.com
- [○ 1 SOURCE] Total banking sector deposits decreased by 0.32% to 34.1 trillion lira in the week ending October 30. www.haberaktuel.com
- [● 2 SOURCES] TCMB gross foreign exchange reserves fell to 56.09 billion dollars as of October 30. www.konyapostasi.com.tr · www.ekonomigazetesi.com
- [● 3 SOURCES] The housing, water, electricity, gas, and other fuels group saw an annual increase of 40.24%. www.bizimsivas.com.tr · fakti.bg
- [● 2 SOURCES] The CPI-based real effective exchange rate index rose by 2.66 points to 107.76 in October. www.gazetearena.com · www.cumhuriyet.com.tr
- [● 2 SOURCES] The Bank of England raised the policy interest rate to 4%. londragazete.com · olaygazete.co.uk