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Turkey's inflation ticks up to 62%

IndiaTimes Monday, 4 December 2023
Turkey's annual inflation rate slightly increased in November, indicating a leveling off after a series of interest rate hikes. The rate rose to 61.98 percent from 61.36 percent in October. The pace of rising consumer prices has started to ease as borrowing costs have slowed down consumption. Analysts predict a final rate hike of 2.5 percentage points at the central bank's next policy meeting. While signs of Turkey's economy recovering are noticed by foreign investors, bringing inflation down will require prolonged tight monetary policy.
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