Turkey’s annual inflation rate at 14.60% in December

Consumer price index up by 1.25% on monthly basis in December, says TurkStat

By Gokhan Ergocun

ISTANBUL (AA) – Turkey saw a 14.60% annual hike in consumer prices in December 2020, the country’s statistical authority said on Monday.

The annual inflation rate rose 0.57 percentage point in the month, up from 14.03% in November, according to the Turkish Statistical Institute (TurkStat).

The consumer price index also saw a 1.25% monthly increase, it added.

Annual inflation in December 2019 was 11.84%.

The highest annual price increase was recorded in miscellaneous goods and services, transportation, and food and non-alcoholic beverages with 28.12%, 21.12% and 20.61%, respectively.

Last week, a group of 19 economists surveyed by Anadolu Agency projected the annual inflation in December to have increased to 14.34%.

The government’s year-end inflation target for 2020 was 10.5% as laid out in the new economic program announced in September 2020.

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