The first decrease in Turkey's inflation since 2021: Official
The rate decreased from 85.51 percent in October to 84.39 percent, according to state statistics agency TUIK.
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For the first time since May 2021, Turkey's inflation significantly decreased in November, according to official figures released on Monday.
The rate decreased from 85.51 percent in October to 84.39 percent, according to state statistics agency TUIK.
Since falling to a low of 16.6% in May 2021, Turkey's inflation rate has climbed rapidly.
However, according to independent economists, the rate is more than twice as high.
The yearly rate of consumer price hikes hit 170.70 percent in November, according to a reputable monthly survey published by independent economists from Turkey's ENAG research institution.
At the weekend, President Recep Tayyip Erdogan predicted that the rate of increase in consumer prices would shortly slow.
"We will see together that the dirty scenarios built on this trouble are torn and thrown away," he said. "We will witness the rapid descent of inflation soon."
Erdogan's administration attributes inflation to external factors like the global increase in food and energy costs brought on by Russia's invasion of Ukraine.
