In 2021, Turkey registered an increase in consumer prices of 36.08%, the highest in 19 years, the newspaper Yeni Safak reported, citing the statistical authority of our southeastern neighbor.
In November, consumer prices reached an annual growth rate of 21.31%, according to the National Statistics Office. On a monthly basis, inflation rose by 13.58% in December compared to 3.51% in November.
The largest increase in prices on an annual basis is observed in transport - by 53.66%, the data show. They are followed by food and non-alcoholic beverages with 43.80%, furniture and household goods with 40.95%. The lowest annual increase, on the other hand, is in communication - 8.76%.
A group of 21 economists forecast an average annual increase in consumer prices of 30.05% in December 2021, according to a study by the Anatolian Agency last week.
Economists forecast monthly inflation for December to average 8.54%, the study also showed.
Meanwhile, announcing monetary and monetary policy for 2022 on Wednesday, the Central Bank of Turkey maintained its medium-term inflation target of 5%, saying monetary policy would focus on gradually achieving that target.
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