Turkiye's annual inflation rate remains virtually unchanged at 29.77% in October

Qabil Ashirov

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Turkiye's annual inflation rate stood at 29.77% in October, remaining virtually unchanged from 29.73% recorded in September, according to the latest official figures.

The Turkish Statistical Institute (TurkStat) announced the data in a statement.

Consumer prices increased by 2.58% month-on-month in October, compared with a 1.84% rise in September. Since the beginning of the year, prices have climbed by 27.52%, while the average annual inflation rate over the past 12 months reached 31.23%.

Among the main expenditure categories, education recorded the highest annual price increase, at 48.86%. Healthcare services became 43.29% more expensive, while housing, water supply, electricity, gas and other fuels saw prices rise by 40.24%.

Transport costs increased by 36.39% year-on-year, while food and non-alcoholic beverages recorded a 27.73% increase.

On a monthly basis, food prices rose by 3.5% in October, while housing and utility costs increased by 2.84%. Transport expenses climbed by 2.02% over the same period.

Meanwhile, data from the independent Inflation Research Group (ENAG) showed that Turkiye's annual inflation rate declined to 45.12% in October, down from 46.61% in September.

However, ENAG's figures indicated that monthly inflation accelerated to 2.68% in October, compared with 2.1% in the previous month.