According to TurkStat data; consumer prices (CPI) increased by 3.28 percent on a monthly basis in November. Annual inflation rose to 61.98 percent from 61.36 percent.
CPI was expected to increase by 3.8 percent on a monthly basis due to rising food and services prices and increased natural gas use, while annual CPI was expected to increase slightly to 62.8 percent.
Core inflation decreased from 69.8 percent to 68.89 percent.
The highest monthly price increase was in housing with 11.17 percent, while the highest annual price increase was in restaurants and hotels with 92.86 percent.
Domestic producer prices (D-PPI) rose by 2.81 percent month-on-month and 42.25 percent year-on-year.
Meanwhile, Inflation Research Group ENAG calculated the monthly consumer price increase at 5.58 percent and annual inflation at 129.27 percent.
Economists state that the monthly rate of increase in CPI tends to slow down due to the weakening of past inflationary effects, while the continuation of this trend depends on the supportive factors such as exchange rates, labor costs, domestic demand, public wage hikes and tax adjustments in the coming period.
