Inflation at nine-year high

Turkey’s consumer pr ce nflat on (CPI) accelerated at a faster-than-expected pace n October to ts h ghest level n n ne years, f gures from the Turk sh Stat st cal Inst tute (TurkStat) reported on Nov. 3. The consumer pr ce ndex cl mbed 11.90% year-on-year n October, faster than the 11.20% sp ke n September. Econom sts had expected CPI to r se to 11.50%. Moreover, the latest f gures are the h ghest s nce October 2008, when pr ces had grown 11.99%. Core pr ces rose an annual 11.8% n October, the h ghest s nce January 2004. Another report from the stat st cal off ce showed that producer pr ce nflat on qu ckened to 17.28% n October from 16.28% n September. Month-on-month, producer pr ces cl mbed 1.71% n October, follow ng a 0.24% ncrease n the preced ng month. The expected r se was 0.6%.