Economics
Turkey’s Inflation Finally Slows for First Time in Over Year
- Rate cuts, higher energy costs, lira’s weakness stoked prices
- Inflation likely peaked in October but price pressures remain
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Turkish inflation slowed for the first time in over a year and a half, though measures to revive the economy ahead of elections in 2023 may keep it elevated for some time.
Consumer prices rose an annual 84.4% in November, down from 85.5% the previous month, according to data released on Monday. The median forecast of economists surveyed by Bloomberg was 84.8%.