Ankara, November 03 (QNA) - Turkiye's annual inflation rate rose to 29.77% in October 2026, compared to 29.73% in September, exceeding market expectations of 29.56%, according to data released today by the Turkish Statistical Institute.

The consumer price index rose by 2.58% on a monthly basis, compared to 1.84% in September, recording the highest monthly increase in six months. The increase in prices since the beginning of the year reached 27.52%, while the inflation rate calculated according to a twelve-month average reached 31.23%.

Across the major spending groups, housing, water, electricity, gas, and fuel prices rose annually by 40.24%, followed by transportation costs, which increased by 36.39%, and food and non-alcoholic beverages, which increased by 27.73%.

The food group had the largest contribution to annual inflation, at 6.81 percentage points, followed by the transportation group at 6.10 percentage points, then housing at 4.71 percentage points.

On a monthly basis, food topped the rises by 3.50%, followed by housing costs by 2.84%, then transportation by 2.02%.

Regarding core inflation, the index excluding unprocessed food, energy, tobacco and gold rose by 28.46% on an annual basis, and by 2% on a monthly basis.

The data comes after Turkiye's central bank cut its key interest rate by 100 basis points to 36% in October, as inflationary pressures draw attention back to monetary policy and the possibility of further interest rate cuts before the end of the year. (QNA)