Turkey's annual inflation rate in October was 85.51% compared to 83.45% a month earlier, the National Statistical Institute said Thursday.

At the same time, the independent Inflation Analysis Group (ENAG) estimated inflation in Turkey in October at 185.34%. In September, according to its data, it was 186.27%.

The head of Turkey's Central Bank, Shahab Kavcioglu, previously reported that inflation in the country this year is expected to reach 65.2%. Initially it was planned at 42.8%, then the figure was revised to 60.4%.

The Turkish Central Bank kept its key rate at 14% from the end of last year until August this year and then began to reduce it. Now it is 10.5%.

Since last December, the Turkish authorities are pursuing the so-called new economic policy, which focuses on strengthening the Turkish lira. However, the national Turkish currency since the beginning of the year has depreciated by more than 25%, a trend that economists predict will continue.