Turkey: Inflation inches down in November
December 5, 2016
Turkish consumer prices increased 0.52% in November compared to the previous month, substantially lower than the 1.44% rise registered in October and undershooting analysts’ expectations of a 0.80% jump. Clothing and footwear recorded the largest monthly price increase, while the prices of recreation and culture, housing and communication were also higher than the previous month. Meanwhile, the prices of food and non-alcoholic beverages and household equipment fell compared to October.
Inflation inched down from 7.2% in October to 7.0% in November, hitting a six-month low. The core prices index, which excludes more volatile categories such as unprocessed food and energy, increased 0.72% in November from the previous month (October: +1.28% month-on-month), while core inflation remained unchanged at 8.1%.
Author: Oliver Reynolds, Economist