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UPDATE - Turkey's annual inflation rate at 14.03% in November

UPDATE - Turkey's annual inflation rate at 14.03% in November
Consumer price index up by 2.30%, says TurkStat


By Aysu Bicer

ANKARA (AA) - Turkey posted a 14.03% annual hike in consumer prices in November, the country’s statistical authority said on Thursday.

The annual inflation rate rose 2.14 percentage points in the month, up from 11.89% in October, according to the Turkish Statistical Institute (TurkStat).

The inflation rate in November 2019 was 10.56%.

The highest annual price increase was recorded in miscellaneous goods and services, food and non-alcoholic beverages and transportation with 29.42%, 21.08% and 18.67% respectively.

On the contrary, low annual increases were seen in clothing and footwear, communication and education with 0.99%, 5.19% and 7% respectively.

On a monthly basis, the consumer price index saw a 2.30% rise.

The data showed transportation, non-alcoholic beverages and furnishings and household equipment were the categories that posted high monthly increases with 4.51%, 4.16% and 1.69% respectively.

Communication with 0.12% and health with 0.80% were the groups that indicated the lowest monthly rise.

In November, the only main group showing a decrease was education with 0.19%.

The official figures indicated there was no monthly change in alcoholic beverages and tobacco.

The 12-month average hike in consumer prices was 12.04% as of November.

The government’s year-end inflation target for 2020 is 10.5%.

source: News Feed
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