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Turkey Inflation November 2020

Turkey: Inflation hits highest level since August 2019 in November

Consumer prices rose 2.30% over the previous month in November, picking up from the 2.13% rise logged in October. November’s result marked the sharpest increase in prices since October 2018 and came on the back of steep price increases for transportation and food and alcoholic beverages.

Inflation rose to 14.0% in November, from October’s 11.9%. November’s figure was the highest inflation rate since August 2019. Inflation has been sticky, in part due to ongoing lira weakness. Meanwhile, the trend pointed up, with annual average inflation coming in at 12.0% in November (October: 11.7%). Lastly, core inflation rose to 13.3% from October’s 11.5%.

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