Inflation in Türkiye rose to 61.53% in September, close to expectations

Annual consumer price inflation in Turkey rose to 61.53 percent in September, official data showed on Tuesday, slightly lower than expected and rising for the third month in a row as a result of tax increases and a recent decline in the lira.

The consumer price inflation rate recorded 4.75 percent on a monthly basis.

According to a Reuters poll, annual inflation was expected to reach 61.7 percent.

Inflation rose after the currency crisis at the end of 2021 and touched the highest level in 24 years at 85.51 percent last October. So far this year, the lira has lost approximately 30 percent of its value.

The domestic producer price index rose 3.40 percent on a monthly basis in September, recording an annual rise of 47.44 percent, according to data from the Turkish Statistical Institute.