Turkey’s annual inflation rate at 14.60 pct in December

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Turkey saw a 14.60 percent annual hike in consumer prices in December 2020, the country’s statistical authority said on Jan. 4.

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

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

Annual inflation in December 2019 was 11.84 percent.

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

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

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

Hurriyet Daily News

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