What is behind Turkey’s inflation spike to 61.9% in November?
November's consumer prices also rose by 3.28%, data released by the Turkish Statistical Institute showed on Monday.
ANKARA — Turkey’s year-on-year inflation increased slightly to 61.98% in November, according to official data released on Monday.
November's consumer prices, meanwhile, rose by 3.28%, data released by the Turkish Statistical Institute (TUIK) showed on Monday, dipping slightly from 3.43% the month prior.
While housing prices recorded the largest hike in monthly consumer prices, increasing 11.17% in November, housing recorded the lowest annual increase, data shows.
Analysts say that the slight dip in monthly consumer prices, the first such recording in three months, suggests that the government's belt tightening by raising interest rates since May is starting to dampen consumption.
