Turkey's inflation hits 24-year high of 85.5% after rate cuts
ISTANBUL, Nov 3 (Reuters) - Turkish annual inflation climbed to a new 24-year high of 85.51% in October, official data showed on Thursday, slightly below forecast, after the central bank cut its policy rate despite surging prices.
Inflation has surged since last year, when the lira slumped after the central bank began cutting its policy rate in an easing cycle long sought by President Tayyip Erdogan.