The annual inflation rate fell to 21.6 percent from 25.2 percent in October, the Turkish Statistical Institute in Ankara said on Monday. Inflation was expected at 23.5 percent, according to the average estimate in a survey of 16 economists.
TRANSPORTATION PRICES LEAD THE FALL
The highest price increase on a yearly basis was seen in furnishing and household equipment with 32.73 percent in November. “Miscellaneous goods and services with 27.87 percent, food and non-alcoholic beverages with 25.66 percent, housing with 24.76 percent and recreation and culture with 21.18 percent were the other main groups where high annual increases realized,” TurkStat stated.
Last week, an Anadolu Agency survey showed that a group of 16 economists forecast an average annual climb of 22.61 percent in consumer prices.