Official data showed that the Turkish annual inflation jumped to a new peak representing the highest level in 24 years at 83.45 percent in September, to come below expectations, following the central bank surprised the markets by cutting interest rates twice in the past two months despite the price hike.
The Turkish Statistical Institute said consumer prices rose 3.08% month on month, compared with a Archyde.com poll forecast of 3.8 percent. On an annual basis, consumer price inflation was expected to reach 84.63 percent.
The producer price index rose 4.78 percent on a monthly basis in September, recording an annual increase of 151.50 percent.
