Inflation in Türkiye accelerates to 62% in November

Inflation in Türkiye accelerated to 62% in annual terms in November and reached an 11-month high, according to the country's Statistical Institute Turkstat, SİA informs referring to Interfax.

The consensus forecast from Trading Economics was for an even more significant increase in consumer prices last month - by 63%. In October, inflation was 61.4%.

The growth in prices for utilities in November accelerated to 37.5% compared to 26% a month earlier, for alcohol and tobacco products to 71.4% from 62%, clothing and footwear to 40.7% from 39.2%, communication services to 48.2% from 46.7%.

Meanwhile, the rise in food prices slowed to a four-month low of 67.2% from 72%, and for transport services to 70% from 72%.

On a monthly basis, the inflation rate fell to 3.3% in November from 3.4% in October.

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