Turkey’s consumer price inflation accelerated at a faster-than-expected pace in November to the highest level in eleven months, while producer price inflation eased to a seven-month low, figures from Turkstat showed Thursday.
The consumer price index rose 8.10 percent year-over-year in November, faster than the 7.58 percent climb in the previous month. Economists had expected the inflation to increase to 7.88 percent.
The latest rate of inflation was the highest since December 2014, when prices grew 8.17 percent.
Prices of food and non-alcoholic beverages surged 9.51 percent annually in November and that for clothing and footwear went up by 7.06 percent.
On a monthly basis, consumer prices increased 0.67 percent in November, following a 1.55 percent spike in October. The expected rate of climb was 0.4 percent. It was the fifth successive monthly rise.
In an another report, the statistical office announced that producer prices climbed 5.25 percent yearly in November, slower than the 5.74 percent hike in the preceding month.
The latest rate of increase was the weakest since April this year, when prices had risen 4.80 percent.
On a monthly basis, producer prices fell 1.42 percent in November, defying economists’ expectations for 0.3 percent gain. In October, prices had fallen 0.2 percent.
The material has been provided by InstaForex Company – www.instaforex.com