Turkey saw a 14.60% annual hike in consumer prices in December 2020, the country’s statistical authority said on Monday.
The annual inflation rate rose 0.57 percentage point in the month, up from 14.03% in November, according to the Turkish Statistical Institute (TurkStat).
The consumer price index also saw a 1.25% monthly increase, it added. Annual inflation in December 2019 was 11.84%.
The highest annual price increase was recorded in miscellaneous goods and services, transportation, and food and non-alcoholic beverages with 28.12%, 21.12% and 20.61%, respectively.^
Last week, a group of 19 economists projected the annual inflation in December to have increased to 14.34%.
The government’s year-end inflation target for 2020 was 10.5% as laid out in the new economic program announced in September 2020.
