ANKARA, November 3: Türkiye’s annual consumer inflation stayed just below 30% in October, at 29.77%, almost unchanged from 29.73% in September, according to official data published on Tuesday. Prices rose 2.58% in the month alone, the biggest monthly increase since April. The figures come days before Türkiye hosts the UN climate summit, COP31, in Antalya.
Key highlights
- Annual CPI inflation: 29.77% in October, against 29.73% in September.
- Monthly inflation: 2.58% in October, up from 1.84% in each of August and September.
- Annual inflation has eased from a 2026 high of 32.61% in May, but the decline has stalled in the last two months.
- The figures are compiled by the Turkish Statistical Institute (TurkStat) and published in the central bank’s inflation data series.
Inflation in 2026, month by month
| Month | Annual (%) | Monthly (%) |
|---|---|---|
| January | 30.65 | 4.84 |
| February | 31.53 | 2.96 |
| March | 30.87 | 1.94 |
| April | 32.37 | 4.18 |
| May | 32.61 | 1.71 |
| June | 32.11 | 0.99 |
| July | 31.75 | 1.78 |
| August | 31.51 | 1.84 |
| September | 29.73 | 1.84 |
| October | 29.77 | 2.58 |
Our calculation
- Ten months of 2026: compounding the monthly figures, consumer prices are up about 27.5% between the end of December and October.
- From the peak: annual inflation is 2.84 percentage points below May’s 32.61%.
- October’s jump: the 2.58% monthly rise is 0.74 points more than September’s 1.84%, and the highest since April’s 4.18%.
What it means
Inflation near 30% keeps living costs high for Turkish households and pressure on the central bank to keep borrowing costs elevated. The stalled decline over September and October shows how hard the last stretch of disinflation is, especially with energy prices sensitive to tensions in West Asia. For Asian exporters, including India, Türkiye remains a large but price-sensitive market where high inflation shapes demand.
The timing also matters for the climate talks. COP31 runs in Antalya from November 9 to 20, and India has said it will press for predictable climate finance there.
What to watch
- November’s inflation data, due in early December.
- The central bank’s next rate decision and its updated inflation forecast.
- Energy prices, which feed quickly into Turkish transport and housing costs.
File photo: Shoppers in the Grand Bazaar, Istanbul. Image: René Cortin, CC BY-SA 4.0, via Wikimedia Commons. Photo source · Licence
Sources
- Central Bank of the Republic of Türkiye: Inflation data (consumer prices, TurkStat)
- PIB: India’s priorities for UNFCCC COP31 in Antalya (November 3, 2026)
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