Turkey's falling food costs and the global decline in oil prices may just help the government get more of what it has been seeking, and sometimes getting, for the past year: lower interest rates to propel economic growth.

Annual inflation slowed to a four-month low of 6.13% in April, Turkey's state-statistics agency in Ankara said on Friday. The data pushed down two-year benchmark government bond yields to a record low of 4.96% amid speculation that the central bank will cut interest rates again at its next Monetary Policy Committee meeting on May 16.