Turkey's CPI moderated to 84.39% in November, its first correction since 2021

MADRID, 5 Dic.

Turkey's CPI moderated to 84.39% in November, its first correction since 2021

MADRID, 5 Dic. (EUROPA PRESS) -

Turkey's year-on-year inflation rate climbed last November to 84.39%, marking a slight downward correction from the 85.51% rise registered in October and the first sign of moderation in the rise in prices of life since May 2021, according to data published by the Turkish Statistical Institute (Turkstat).

Thus, the moving average of inflation in the last twelve months stood at 70.36% in November 2022.

In monthly terms, the Turkish CPI rose 2.88% in the penultimate month of 2022, after the 3.54% increase in October and below the 3.51% monthly rise in November last year.

In November, the lowest annual increase in prices was 35.87% in communication, as well as in clothing and footwear, with a rise of 36.96%, while education raised prices by 37.18%.

For its part, transportation, with 107.03%; food and non-alcoholic beverages, with 102.55%; and furniture and household goods, with 92.83%, were the main items where the highest annual increases were registered.

The Central Bank of Turkey decided at the end of November to lower the reference interest rate by 150 basis points, to 9%, in the fourth consecutive drop in the price of money, thus ending the cycle of rate cuts that were It started last August.

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