Türkiye inflation surges above 33%

Annual inflation in Türkiye rose to 33.29 per cent in September, up from 32.95 per cent the previous month. 

Rising expenses for food, housing and education were the main contributors to consumer price increases, Caliber.Az reports via figures from the Turkish Statistical Institute (TÜİK).

The consumer price index grew by 3.23 per cent month-on-month and by 33.29 per cent year-on-year.

It is worth noting that Türkiye has been grappling with persistently high inflation since 2021, driven by a combination of global energy price shocks, supply chain disruptions, and unorthodox monetary policies that relied on cutting interest rates despite rising prices. 

Economists warn, however, that structural challenges and high external debt continue to put pressure on price stability.