Turkish annual inflation climbed to a new 24-year high of 85.51% in October, official data showed on Thursday, slightly below forecast, after the central bank cut its policy rate despite surging prices, APA reports citing Reuters.
Month-on-month, consumer prices rose 3.54%, the Turkish Statistical Institute said, below 3.60% forecast in a Reuters poll. Annually, consumer price inflation was forecast to be 85.60%.
The annual inflation in October was the highest since June 1998, when Turkey was working to end a decade of high inflation.
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