Turkey: Annual Inflation Rate Remains at Approximately 29.77%

According to official data, Turkey's annual inflation rate remained virtually unchanged in October, though independent sources report significantly higher figures.

Turkey's annual inflation rate stood at 29.77% in October, a figure nearly identical to the previous month. This was reported this morning (Tuesday) by AzerNews and DW Turkish, citing data from the Turkish Statistical Institute (TÜİK).

Alongside the official government data, an independent research group known as ENAG released a significantly higher figure, claiming that the annual inflation rate in the country reached 45.12%. While the government bureau reported a monthly increase of 2.58% in the consumer price index, the independent body provided a different estimate of the country's economic situation. Further details regarding the implications of these discrepancies in the data have not yet been released.