Surge in core inflation continues
The deterioration in core inflation indicators continued in September. In this period, C index, which is the Central Bank of Turkey's favorite among the main core inflation indicators, recorded an annual rise of 10.98%, the highest reading in almost 14 years. On the other hand, monthly CPI inflation came in at 0.65% in September, below market expectations. CPI was expected to rise by 0.76% in September. Annual CPI inflation reached 11.2% in September. The upward trend in core inflation indicators in this period has raised concerns that CPI inflation will remain in double-digits for a while. Annual D-PPI inflation also remained high at 16.3% in September.