Turkish inflation falls – but unexpectedly little

Inflation in Turkey took a step down in November, but a small one. Consumer prices rose by 47.1 percent compared to the same month last year, according to fresh figures. This can be compared to 48.6 percent in inflation in October.

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Turkish inflation falls – but unexpectedly little
Photo: Khalil Hamra/AP/TT

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Analysts had hoped for a slightly clearer decline, to 46.6 percent according to a compilation of forecasts made by Bloomberg.

Compared to October this year, November prices rose by 2.2 percent. This can be compared to a monthly price increase rate of 2.9 percent in October and an average forecast for November of 1.9 percent.

Turkey's interest rate has been at 50 percent for some time, to curb the upward pressure on prices in the country. The next interest rate decision from the country's central bank will come on December 26.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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