Turkey's annual inflation rate at 14.03% in November

# 03 December 2020 14:33 (UTC +04:00)

Turkey posted a 14.03% annual hike in consumer prices in November, the country’s statistical authority said on Thursday, APA reports citing Anadolu Agency.

Annual inflation rate rose 2.14 percentage points in November, up from 11.89% in October, according to the Turkish Statistical Institute (TurkStat).

The consumer price index saw a 2.30% monthly increase, it added.

The inflation rate in November 2019 was 10.56%.

The highest annual price increase was recorded in miscellaneous goods and services, food and non-alcoholic beverages and transportation with 29.42%, 21.08% and 18.67% respectively.

On Tuesday, a group of 23 economists surveyed by Anadolu Agency also projected that November’s monthly inflation to have risen to 12.69% from 11.89%

The government’s year-end inflation target for 2020 is 10.5%, as laid out in the new economic program announced in September.