Turkey September Inflation Slows to 29.73% Year-on-Year

The Turkish Statistical Institute (TÜİK) announced September 2026 inflation data on October 5. The Consumer Price Index (CPI) increased 1.84% month-on-month, bringing annual inflation down to 29.73% from 31.51% in August. Economists had projected a monthly rise between 1.90% and 2.60%.

Year-to-date inflation reached 24.32%, while the 12-month moving average stood at 31.49%. The monthly increase was the lowest since May 2024, signaling a continued disinflation trend.

“Falling inflation does not mean falling prices. People see the cost of living in markets and rents, not in TÜİK's numbers.”

Food and non-alcoholic beverage prices fell 0.20% monthly but rose 27.62% annually. Transport costs jumped 2.79% monthly and 35.10% yearly. Housing, water, electricity, gas and other fuels climbed 2.71% monthly and 39.99% annually.

The core inflation indicator (B index), excluding unprocessed food, energy, alcohol, tobacco and gold, rose 2.01% monthly and 29.00% annually. Among 174 sub-categories, 133 saw price increases, 35 declined and six were unchanged.

Domestic Producer Price Index (D-PPI) rose 2.07% monthly and 27.38% annually in September. Manufacturing prices increased 29.09% year-on-year, while energy prices surged 3.55% monthly.

The September CPI figure determines the October rent increase ceiling and will factor into the January 2027 salary adjustments for civil servants and pensioners.

The All Pensioners' Union contested the official data, citing ENAG's alternative calculation of 46.61% annual inflation. The union stated falling inflation does not mean falling prices and highlighted the erosion of purchasing power.