ISTANBUL: Turkey’s annual inflation slowed in November to 31.1%, down from 32.87% in October, its lowest in four years, official data showed on Wednesday.
Inflation, which stands at 0.9% over one month, particularly affected education with 66.2% as well as housing with 49.9%.
Turkey has experienced double-digit inflation since 2019, making life increasingly more expensive for millions of people, after President Recep Tayyip Erdogan ordered interest rate cuts in a bid to spur growth.
The figure, which exceeded 75% in May 2024 before starting to fall, is now at its lowest level since November 2021.
The central bank forecast that year-end inflation would be at 31-33%.
The official figures are disputed by independent economists from the Inflation Research Group ENAG, who estimate that consumer prices rose by 56.82% year-on-year in November.