UK grocery price inflation falls at fastest rate on record, research shows

Rising food, transportation and services prices pushed annual inflation in Turkey to 64.77 per cent in December, its highest level in a year, official data showed on Wednesday.

The figure, up from 62 per cent in November, was in line with estimates. Core inflation rose less, from 69.9 per cent year-on-year in November to 70.6 per cent.

Since winning re-election in May, Recep Tayyip Erdoğan, Turkey’s president has allowed the central bank to raise interest rates by 34 percentage points to tackle rising prices. The next interest-rate-setting meeting is on January 25.

In December, restaurant and hotel prices nearly doubled year-on-year, while food prices rose 72 per cent and transportation costs climbed 77 per cent, the Turkish Statistical Institute said.

Via

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