Inflation in Turkey fell less than expected in October, indicating continued inflationary pressures. Data from the Turkish Statistical Institute showed that the consumer price index rose by 48.58 percent year-on-year, beating previous expectations of an average rise of 48.30 percent, with economists' expectations ranging between 47.90 and 48.50 percent. Annual inflation in September was 49.38 percent, but the October rate is still remarkably high, not enough to revise monetary policy. Abandon the tightening and cut the interest rate from its current level of 50 percent.
