Turkey’s annual inflation increases

Turkey’s annual inflation rate rose to 11.92 percent last December, driven mainly by rising prices in transportation, food and nonalcoholic beverages, show data unveiled on Wednesday. On a monthly basis, consumer prices rose by 0.69 percent last month, while the costs of transportation and food and nonalcoholic beverages increased by 1.69 and 1.52 percent respectively, according to the data released by the Turkish Statistical Institute. The annual rise in transportation prices was 18.24 percent, contributing to a higher inflation from 9.22 percent in January 2017.