Turkish annual inflation eased in August for the third straight month, even as monthly prices advanced slightly compared to the previous reading, raising expectations that the central bank might lower borrowing costs next week.
The consumer price index (CPI) cooled slightly to 31.51% in August, according to the official data released by the Turkish Statistical Institute (TurkStat) on Thursday.
The index was down from 31.75% in July and marked a third month of easing despite the ongoing conflict between the U.S. and Iran and rising energy prices.
Month-over-month consumer prices advanced 1.84%, accelerating from 1.78% in July, TurkStat said.
Both rates, however, came in slightly below the market expectations.
