Sun, 22 May 2022

Turkey's annual inflation hits 3-year high in Nov.

04 Dec 2021, 05:05 GMT+10

ANKARA, Dec. 3 (Xinhua) -- Turkey's annual inflation rate in November climbed to 21.31 percent, the highest level in three years, the Turkish Statistical Institute announced on Friday.

The consumer prices rose 3.51 percent month-on-month in November and reached the highest level since September 2018, the data showed.

The categories with the highest increases were restaurants and hotels with 28.90 percent, food and non-alcoholic beverages with 27.11 percent, and household goods with 25.14 percent.

The producer price index rose 9.99 percent month-on-month in November, with an annual rise of 54.62 percent.

In November, the Turkish central bank lowered its benchmark interest rate for the third time in three months amid soaring inflation.

More Turkey News

Access More

Sign up for The Turkey News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!