Official data showed today, Monday, that the annual inflation rate in Turkey fell to 84.39% in November for the first time since May 2021, which is slightly less than expectations, ending a 17-month period of increases since last year.
The Turkish Statistical Institute said that consumer prices rose 2.88% on a monthly basis, while consumer price inflation is expected to reach 84.65% on an annual basis.
Monthly inflation reached a 24-year high in October, when it reached 85.51%.
On the other hand, the domestic producer price index increased by 0.74% on a monthly basis in November, while the annual basis achieved an increase of 136.02%.
Last month, the Turkish Central Bank ended an unconventional easing cycle that it carried out despite rising prices, and cut the interest rate to 9% from 19% in response to President Recep Tayyip Erdogan's call to stimulate the economy.