Turkey's annual inflation jumped far more than expected to 36.08% year-on-year in December, the highest since September 2002, data showed on Monday reflecting a plummet in value of the lira late last year.
Month-on-month, consumer prices rose 13.58%, the Turkish Statistical Institute said, compared to a Reuters poll forecast of 9%. The annual inflation forecast was 30.6%, Reuters reported.
The lira was trading at 13.6 against the dollar after the data, 3% weaker on the day but off an early low of 13.92. It shed 44% of its value last year after a volatile November and December.
The producer price index rose 19.08% month-on-month in December for an annual rise of 79.89%, the data showed, reflecting soaring in import prices due to the currency crash.
It was the highest CPI annual since the 37.0% of September 2002, before President Tayyip Erdogan's AK Party first came to power in November of that year. The for...
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