Türkiye's annual consumer inflation rises to 61.98% in November

By Tuba Ongun

ANKARA (AA) – Türkiye's annual inflation rose to 61.98% in November, the highest rate so far this year, according to data released on Monday.

The figure accelerated from 61.36% in October, the Turkish Statistical Authority (TurkStat) data showed.

An Anadolu survey had forecast the annual consumer price hike would be 62.61% at an annualized pace and 3.68% month-on-month.

Among the main groups, hotels, cafes and restaurants saw the largest annual price surge with 92.86%, while housing posted the lowest with 37.54%.

The cost of food increased 67.16% year-on-year in November, following a 71.99% hike in October.

On a monthly basis, Türkiye's consumer prices index gained at the slowest pace in 6 months with 3.28% in November, easing from October's 3.43% rise.

Türkiye's Central Bank's year-end inflation forecast for 2023 stands at 65%, revised upwards due to higher food and energy import prices.