Annual inflation in Türkiye fell to 29.73% amid global markets' anticipation

Annual inflation in consumer prices in Türkiye last September recorded its largest decline in about 5 years, reaching 29.73 percent. While monthly inflation recorded an increase of 1.48 percent, unchanged from August.

Official data issued by the Turkish Statistical Institute on Monday showed that annual inflation had declined to a level of less than 30 percent since November 2021. Annual inflation had recorded 31.51 percent in August.

According to the data, the average consumer prices in 12 months reached 31.49 percent, while the average prices of local producers reached 27.81 percent.

Based on inflation data in September, the annual increase in rents for the current month of October was set at 31.49 percent for homes and workplaces.

As for annual changes in the three main spending groups with the greatest weight, food and non-alcoholic beverage prices rose by 27.62 percent, transportation prices by 35.10 percent, and housing, water, electricity, gas, and other fuel prices by 39.99 percent.

Previous expectations of economists indicated a rise in monthly inflation by 2.18 percent, and a decline in annual inflation to 30.16 percent.

The Minister of Treasury and Finance, Mehmet Simsik, commented on the official inflation figures, through his account in “X”, pointing out that the annual inflation rate has fallen below 30 percent for the first time in 57 months.

In turn, Turkish Vice President Cevdet Yilmaz said, through his “X” account, that the government continues its battle against inflation through firm, comprehensive, and coordinated policies.

US stock index futures fell during trading on Monday, with technology stocks breathing down their necks after reaching record levels, while investors awaited new indicators regarding the path of monetary policy.

Chip company shares topped losses during early trading, as Intel shares fell more than 4 percent, while Micron Technology shares fell 0.3 percent. On the other hand, Nvidia shares rose 0.5 percent.

Saudi Arabia is strengthening its presence as an attractive market for international food companies, with regulatory updates and the expansion of the manufacturing and food services sectors affecting trade.

Chris Frederick, the agricultural advisor in the Agricultural Affairs Department at the US Embassy in Riyadh, told Asharq Al-Awsat that American beef exports to Saudi Arabia amounted to about 575 metric tons, with a value of approximately $6.2 million during the period from April to July 2026.