A report from the Turkish Statistical Authority showed that prices increased 6.57 percent year-on-year, also considerably lower than estimates.
Monthly inflation was forecasted to reach 1 percent while annual inflation was to come around 8.05 percent.
New data pointed out that annual inflation declined for four months in a row, suggesting there may be a green light for the Turkish Central Bank to continue rate cuts.
Annual inflation also declined to a level not seen since May 2013, when violent anti-government protests shook the country.
The Central Bank of Turkey has repeatedly linked further interest rate cuts to improvements in inflation outlook although recently it introduced a few measured rate cuts to its key policy rates.
Previously the Bank was under pressure from government officials who have called for lower interest rates to boost economic growth. |
