Inflation in Turkey accelerates to 21.3% in November

The Turkish Statistical Institute published a report about country consumer’s price dynamics in November. According to published data annual inflation peaked in three years, accelerating to 21.3% from 19.9% in October. According to the economist’s prognoses, the annual increase in consumer’s prices in the past month was expected at the level of 20.7%. The main factors influenced on this figure were sharply increased energy carrier’s prices and the decline in the Turkish national currency to historically low levels. Food and beverage prices rose 27.1% compared to last year November prices. The inflation indicator, without accounting energy carrier’s prices, was fixed at 17.6%, having increased by 16.8% from its value in the previous month. Over the month, prices increased by 3.5% after their October increase by 2.4%. Expert’s prognoses predicted their monthly growth of 3%.

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Arseny Kudrin

Publicist, trader

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