Turkey inflation hits highest level since 2003

Turkish inflation hit its highest in 14 years in November, surging by an annual 12.98 percent as transport and food costs spiked
Monday, 04 December 2017 15:16

Turkey's annual inflation rate in November jumped to its highest level in 14 years, as food prices remain elevated.

The annual consumer price index rose to 12.98% in November--the highest reading since 2003--from 11.9% in October, the state statistics agency TÜİK said Monday.

The data showed annual food and non-alcoholic beverages prices rose to 15.78% in November from 12.74% in October. Annual transportation costs surged by 18.56%.

Core inflation indicators, excluding food and beverages, tobacco, energy and gold prices, jumped to 12.1% in November from 11.8% in October.