Return from peak in inflation

TURKSTAT announces November inflation figures in Turkey. Consumer prices (CPI) increased by 2.88 percent in November, month-on-month. Annual inflation decreased from 85.51 percent to 84.39 percent. Thus, there was a turnaround in inflation from the peak of 24 years. In the markets, it was estimated that the CPI would increase by 3 percent monthly and 84.54 percent annually.

The change in CPI was 62.3 percent compared to December of the previous year and 70.36 percent compared to the twelve-month averages. The main group with the least increase compared to the same month of the previous year was communications with 35.87 percent. On the other hand, the main group with the highest increase compared to the same month of the previous year was transportation with 107.03 percent.

CORE INFLATION ALSO SLOWED DOWN

In the same period, a slowdown was also recorded in core inflation. Annual core inflation was announced as 68.91 percent in November.

Excluding energy, food and non-alcoholic beverages, alcoholic beverages and tobacco products and gold, the CPI recorded an increase of 1.88 percent on a monthly basis.

In October, the annual core inflation was realized as 70.45 percent.

SOURCE: ekonomim.com/ekonomi/enflasyonda-zirveden-donus-haberi-676088