ISTANBUL: Turkiye annual consumer price inflation fell to 44.38% in December, official data showed on Friday, with education, housing and restaurant prices leading the rise in the index.

Month-on-month, inflation was 1.03%, according to the Turkiye Statistical Institute, compared with 2.24% in November.

Annual consumer price inflation (CPI) was 47.09% in November.

Turkiye begins cutting rates after inflation-fighting drive

In a Reuters poll, the annual inflation rate was expected to fall to 45.2%, while the monthly figure was seen at 1.61%, due to easing food price rises and a limited rise in energy.

The domestic producer price index was up 0.4% month-on-month in December for an annual rise of 28.52%, the Turkish Statistical Institute data showed.