Turkish inflation slower than expected

Turkey's inflation for October increased 6.37 percent compared with the same month a year earlier, falling below market expectations. The 12 month inflation rate amounted to 9.26 percent, official data released today by TUIK showed. This was in line with the government’s expectation for a slowdown in inflation by the year’s end. However, it is not clear whether this will help the government meet its 2012 target of around 7.4 percent. The year-on-year figure stood at 7.68 percent in September.