Turkey's annual inflation rate at 21.31% in November

ANKARA

Turkey posted a 21.31% annual hike in consumer prices in November, the country’s statistical authority said on Friday.

Annual inflation rose 1.42 percentage points last month, up from 19.89% in October, according to the Turkish Statistical Institute (TurkStat).

The highest price increase on a yearly basis was seen in hotels, cafes, and restaurants with 28.90% last month, according to TurkStat data.

It was followed by food and non-alcoholic beverages with 27.11% and furnishings and household equipment with 25.14%.

The lowest annual increase was 5.77% in communication, the institute said.

A group of 24 economists projected an average annual rise of 20.57% in consumer prices this November, an Anadolu Agency survey found on Monday.

On a monthly basis, the consumer price index saw a 3.51% hike in November.

Data showed that transportation with 6.31%, miscellaneous goods and services with 5.36%, and hotels, cafes, and restaurants with 4.6% posted the highest monthly rises in November.

The economists had forecast monthly inflation for November to average at 2.88%, the survey revealed.