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Turkish headline inflation accelerates above expectations in November

Turkish consumer price inflation accelerated above market expectations in the month of November. The consumer price index rose to 12.98 percent on a year-on-year basis from 11.90 percent, showed the Turkish Statistical Institute. This was above the anticipated level of 12.59 percent. However, on a sequential basis, consumer price inflation slowed to 1.49 percent from 2.08 percent.

On a sequential basis, clothing and footwear recorded the highest rise of 3.77 percent, whereas the indices for food and non-alcoholic beverages rose 2.11 percent. The transportation, miscellaneous goods and services and the housing categories recorded rises of 2.01 percent, 1.84 percent and 1.25 percent. Alcoholic beverages and tobacco recorded the least monthly rise of 0.01 percent.

Meanwhile, transportation recorded the biggest monthly rise of 18.56 percent. Prices of food and non-alcoholic beverages rose 15.78 percent, while miscellaneous goods and services, furnishings and household equipment and health recorded rises of 13.39 percent, 12.85 percent and 12.38 percent, respectively.

The Turkish Statistical Institute also released another report that showed that the producer price index rose 2.02 percent sequentially and 17.3 percent on a year-on-year basis.

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