Turkey Posts Surprise Inflation Slowdown Fanning Rate-Cut Hopes

Turkey’s annual inflation eased to the lowest since November 2021, potentially paving the way for the central bank to cut interest rates in the near future.

Price increases slowed to 35.4% last month from 37.9% in April, state statistics office TurkStat said Tuesday. Data came in below expectations, with the median forecast in a Bloomberg survey pointing to a 36% reading.