Only slightly weakened
Inflation in Turkey still at 47 percent
The very high inflation in Turkey continues to weaken only slightly. In November, consumer prices rose by around 47.1 percent compared to the same month last year, according to the statistics office in Ankara on Tuesday. Although this is the lowest inflation rate since last summer, the decline in inflation has weakened more and more in recent months.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen In August and July, the inflation rate had fallen by around ten percentage points. In September, inflation fell by just over two points, while in October and November it had barely fallen at all.
Cost explosion in school education, household management and gastronomy
In a monthly comparison, consumer prices rose by 2.2% in November, slightly more than expected. The strongest price drivers in a year-on-year comparison were costs for school education, housekeeping and visits to restaurants.
The country's central bank had fought against inflation by raising interest rates. With the approval of President Recep Tayyip Erdogan, the central bank has increased the key interest rate by 41.50 percentage points since June 2023. However, Turkey's key interest rate has remained unchanged at 50 percent since March.
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