Turkey's inflation rate in November rose: Survey

Economists surveyed by Anadolu Agency project annual inflation rate last month reached 12.69%

By Murat Aslan

ISTANBUL (AA) – Inflation in Turkey this November is projected to have risen to 12.69% from 11.89% in October, according to a survey on Tuesday.

A group of 23 economists surveyed by Anadolu Agency also projected that November’s monthly inflation rate was 1.1%.

Estimates of the expected monthly consumer price index ranged between 0.75% at its lowest and 1.80% at its highest.

Year-end inflation is forecast at 12.68%, which is an average of estimates ranging between 12% and 13.30%.

The Turkish Statistical Institute (TurkStat) is due to release official inflation figures for November later Thursday.

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

* Writing and contributions by Gokhan Ergocun

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