Türkiye’s Annual Inflation Slows Further in August

Türkiye's annual inflation rate continued to decline in August, falling to just below 33%, according to official data released on Wednesday.

The consumer price index (CPI) advanced 32.95% year-on-year last month, down from 33.52%, according to the data released by the Turkish Statistical Institute (TurkStat), The Caspian Post reports citing Turkish media.

Month-on-month inflation was 2.04%, TurkStat said.

The Turkish central bank, at its last meeting in July, lowered its key policy rate by 300 basis points to 43% as inflation continued to cool in recent months.

The annual increase in prices was led by education and housing, while the smallest change was observed in clothing and footwear, according to the data.