Turkish annual inflation cools further in August

Türkiye's annual inflation rate eased further in August, coming in just below 33%, official data showed on Wednesday.

The consumer price index advanced 32.95% year-on-year last month, down from 33.52%, according to the data released by the Turkish Statistical Institute (TurkStat).

Month-on-month inflation was 2.04%.

The Turkish central bank, at its last meeting in July, lowered its key policy rate by 300 basis points to 43% as inflation continued to cool in recent months.

The annual increase in prices was led by education and housing, while the smallest change was observed in clothing and footwear.