Turkey: Inflation hits three-month high in November
December 3, 2014
In November, consumer prices increased a 0.18% over the previous month, which was well below the 1.90% rise recorded in October. A hike in electricity and natural gas tariffs was behind October’s massive increase. According to the statistical office, the November reading, which undershot the 0.30% increase that market analysts had expected, was primarily the result of higher prices for clothing and footwear, as well as for furnishings and household equipment.
Annual inflation rose from 9.0% in October to 9.2% in November, which represented a three-month high.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.58% in November over the previous month (October: +1.37% month-on-month). Annual core inflation inched up from October’s 9.4% to 9.5% in November.