Turkey’s annual inflation slowed in November to 31.1 percent, down from 32.87 percent in October, its lowest in four years, official data showed on Wednesday.
Inflation, which stands at 0.9 percent over one month, particularly affected education with 66.2 percent as well as housing with 49.9 percent, reports BSS.
Turkey has experienced double-digit inflation since 2019, making life increasingly more expensive for millions of people, after President Recep Tayyip Erdogan ordered interest rate cuts in a bid to spur growth.
The figure, which exceeded 75 percent in May 2024 before starting to fall, is now at its lowest level since November 2021.
The central bank forecast that year-end inflation would be at 31-33 percent.
The official figures are disputed by independent economists from the Inflation Research Group ENAG, who estimate that consumer prices rose by 56.82 percent year-on-year in November.
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