Turkey’s annual inflation increased to 11.89% in October, up from 11.75% in September, the country’s statistical body said Tuesday.
The inflation rate in October 2019 stood at 8.55%, according to the Turkish Statistical Institute (TurkStat).
Month-on-month, the consumer price index (CPI) surged 2.13%.
The highest annual price increase was recorded in miscellaneous goods and services with 27.4% last month, TurkStat said.
In a Reuters poll of 13 economists, the median estimate for inflation in October was 11.90%, with forecasts ranging between 12.46% and 11.64%.
The median expectation for the monthly rate was 2.1%, with estimates between 2.65% and 1.9%.
A group of 17 economists polled by Anadolu Agency (AA) last week expected annual inflation to hit 11.76% and monthly inflation to reach 2.01%.
Turkey’s inflation rate has fallen by 0.26 percentage points over the course of this year, having started out at 12.15% in January.
