Turkey's annual inflation to fall in November: Survey

By Erhan Cihan Unal

ISTANBUL (AA) - The average annual rise in consumer prices in Turkey is expected to be 22.61 percent in November, down from the previous month, according to an Anadolu Agency survey done on Thursday.

Turkey's annual inflation in October was 25.24 percent.

Over the past five years, annual inflation saw its lowest level at 6.13 percent in April 2013, while it peaked this October.

Next Monday, Dec. 3, the country's statistical authority TurkStat will release inflation figures for November.

Monthly inflation forecasts by a group of 16 economists vary between minus 1.10 and 0.25 percent, with average monthly inflation of minus 0.64 percent -- pointing to a fall in consumer prices -- in November.

Last month, consumer prices in Turkey rose 2.67 percent on a monthly basis.

The economists also predicted that Turkey's year-end annual inflation would be 22.57 percent on average, with predictions varying between 21.00 and 25.40 percent.

As noted in Turkey's new economic program announced in September, the country's inflation rate target is 20.8 percent this year, 15.9 percent next year, 9.8 percent in 2020, and 6.0 percent in 2021.

* With writing and contributions by Muhammed Ali Gurtas from Ankara