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Turkey.. inflation fell for first time since 2021 | Economy

Official data showed on Monday that the annual inflation rate in Turkey fell to 84.39% in November for the first time since May 2021, which is slightly below expectations, ending a period of increases of 17 months since last year.

Turkish Statistical Institute said consumer prices rose 2.88% month-on-month, as expected Consumer price inflation is expected to reach 84.65% year-on-year.

Monthly inflation reached a 24-year high in October, when it reached 85.51%..

The national producer price index instead increased by 0.74% on a monthly basis in November, while on an annual basis it recorded an increase of 136.02%.

Last month, the Turkish central bank ended an unconventional easing cycle that it continued despite rising prices and cut its interest rate to 9% of the 19% respond to President Recep Tayyip Erdogan’s call to stimulate the economy.

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