Turkey’s annual inflation rate at 14.03% in November

Shafaq News/ Turkey posted a 14.03% annual hike in consumer prices in November, the country’s statistical authority said on Thursday.

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

The consumer price index saw a 2.30% monthly increase, it added.

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 Tuesday, a group of 23 economists surveyed by Anadolu Agency also projected that November’s monthly inflation to have risen to 12.69% from 11.89%

The government’s year-end inflation target for 2020 is 10.5%, as laid out in the new economic program announced in September.