Turkey: Annual inflation eases for third month

ANKARA (AA) – Turkey’s annual consumer price inflation rate was down for the third month in a row, the Turkish Statistical Institute (TurkStat)’s November report revealed on Monday.

Yearly inflation was seven percent, compared to 8.10 percent in November 2015, 7.58 percent in October 2015 and 7.95 in September 2015, the institute said.

Monthly inflation was 0.52 percent in November over the previous month, lower than market expectations.

The median estimate of an inflation expectation survey prepared by Anadolu Agency’s Finance Desk had been a 0.82 percent hike on a monthly basis and 7.76 percent on an annual basis.

TurkStat’s report showed the highest monthly increase was in clothing and footwear, with 3.89 percent. The top sub-indices in yearly consumer price inflation on an annual basis were alcoholic beverages and tobacco, rising 22.61 percent.