Turkey's headline inflation rate in October was 48.6%, slightly lower than the previous month's rate of 49.4%, according to official data.

Economists had expected a decline to 48.3%, but the actual figure was higher, suggesting that an interest-rate cut is unlikely for the rest of the year.

The favored measure for central bankers, monthly price increases, also showed a slight moderation, falling to 2.88% from 2.97% in the previous month.

This data may reinforce economists' prevailing sentiment about the central bank's monetary policy stance in the face of ongoing inflationary pressures.