Turkey annual inflation hits 24.5% in September

Ankara: The annual inflation rate in Turkey rose to nearly 25 percent in September, official statistics showed on Wednesday, as the Turkish lira remains weak against the US dollar despite a sharp interest rate hike last month.

Consumer prices rose 24.52 percent in September from the same month last year, up from a 17.9 percent increase recorded in August, according to the Turkish statistics office. Last month the bank increased its main policy rate from 17.75 percent to 24 percent.