TÜİK Announced Inflation Data for September 2026: Annual Inflation Reduced Below 30%

Turkish Statistical Institute (TUIK) announced the inflation rate for September 2026. Accordingly, in September, inflation was 1.84 percent on a monthly basis and 29.73 percent annually. Annual inflation fell below 30 percent for the first time after December 2021.

Speaking to Cumhuriyet, Economist Onur Çanakçı said that the figures do not reflect the price increases in the real life of the citizens. Çanakçı pointed out that the high increases in basic expenditure items such as rent, food, transportation and communication continue, and warned, "Pricing behavior deteriorates further as we move away from the real inflation of the people."

"ALMOST 10 TIMES THAN EUROPE"

Stating that inflation falling below 30 percent may be viewed positively in some segments, Çanakçı pointed out that price increases in Turkey are still extremely high.

Çanakçı said, "Although some people may be happy that it fell below 30, it should be known that today it is almost ten times the European inflation."

According to Çanakçı, the real issue is the price increases in basic expenses that citizens face every day, rather than the general inflation rate announced.

"CITIZENS WHO HAVE INCREASED RENT LIVE 31.50 PERCENT"

Emphasizing that rent increases are one of the determining factors in the citizen's perception of inflation, Çanakçı explained the difference between the official inflation rate and the price increase faced by households in terms of rent.

Çanakçı said, "The rent of someone whose rent increased today was exposed to an increase of 31.50 percent. Imagine that the inflation target for 2027 is 21.50 percent."

"PEOPLE'S REAL INFLATION IS STILL HIGH"

Stating that the decline in inflation did not reduce street prices at the same pace, Çanakçı said that mandatory expenditure items, especially rent, food, transportation and communication, remained high.

Çanakçı evaluated: "To say that inflation is in the process of disinflation at a time when the real inflation of the people, that is, rent, food, transportation and communication, is still high, is to ignore the economic facts."

"DROPPING IT ON PAPER IS NOT ENOUGH"

Çanakçı warned that focusing only on the decline in official data in the fight against inflation could create new economic problems.

"Let's not forget that, as long as we move away from the real agenda of the people, real inflation figures, market and market prices, no matter how low you keep inflation on paper, it will serve no purpose other than deteriorating the pricing behavior of the people," said Çanakçı, adding that the deterioration in pricing behavior could further widen the gap between wages and prices.

"PEOPLE SET THE PRICE ACCORDING TO THEIR FEELING"

Çanakçı stated that inflation expectations directly affect the behavior in society and made the following warning:

"When pricing behavior deteriorates, people will put the inflation they feel on the goods and services they produce, not on the TURKSTAT inflation. This will cause the gap between wages and prices to widen."