Home » Turkey’s inflation dips to 84.39% after 17 months of rises

Turkey’s inflation dips to 84.39% after 17 months of rises

 

Turkish annual inflation slipped to 84.39% in November, official data showed on Monday, just below forecast, ending a 17-month long period of rises since last year when the central bank began cutting interest rates.

Month-on-month, consumer prices rose 2.88%, the Turkish Statistical Institute said, compared to a Reuters poll forecast of 3%. Annually, consumer price inflation TRCPIY=ECI was forecast to be 84.65%. It hit a 24-year high of 85.51% in October.

The domestic producer price index was up 0.74% month-on-month in November for an annual rise of 136.02%TRPPIY=ECI.

Last month, the central bank wrapped up its unorthodox easing cycle, which it carried out despite soaring prices, lowering its policy rate to 9% from 19% in line with President Tayyip Erdogan’s calls for stimulus.

(Reporting by Gdansk newsroom; Writing by Daren Butler; Editing by Jonathan Spicer)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source : Reuters

Team USA Never Trails in Exhibition Rout of Greece

Greek Yogurt Market to Witness Stunning Growth | Parmalat, Nestlé, Stonyfield

The First Hot Air Balloon Restaurant, Greece’s New Golden Visa and More Travel News

Commission Urges Greece to Recover Illegal State Aid for 2007 Wildfires