INFLATION GAP BETWEEN TURKEY AND OECD COUNTRIES RISES

Dunya Executive - - OVERVIEW -

Consumer pr ces n the Organ zat on for Econom c Cooperat on and Development (OECD) countr es rose by 2.33% n September on a yearly bas s, the OECD d sclosed on Nov. 7. The average annual nflat on for 35 OECD countr es was up from 2.19% n August.

Over the same per od, Turkey’s CPI was at

11.2%, the h ghest annual nflat on n OECD countr es. The gap between the two stat st cs stood at one of ts h ghest levels n years. In October, Turkey’s nflat on has cont nued to r se, reach ng 11.9%. Th s upward trend s also expected to be seen n November.

Accord ng to OECD data, Turkey s followed by Mex co and Eston a w th 6.35% and 3.67%, respect vely. In September, the lowest annual h kes n general pr ces were observed n Israel (0.10%), Ireland (0.20%) and Sw tzerland (0.65%). Among major econom es -- G7 countr es -- the h ghest annual nflat on was seen n the UK, w th a 3% ncrease, and the lowest n Japan w th a 0.70% h ke. The average annual nflat on for G7 countr es was 1.88%. Dur ng the same per od, consumer pr ces rose 2.23% n the US, 1.76% n Germany, 1.55% n Canada, 1.10% n Italy and 0.99% n France.

Last year, the average annual nflat on n the OECD area was 1.1%, up from 0.6% n 2015. Over the last 10 years, the h ghest annual nflat on was seen n 2008 -- 3.68% -- wh le the lowest was 0.51% n 2009. In 2016, the OECD econom es grew by 1.78% on average to reach nearly $54 tr ll on, amount ng to 71.5% of the world economy.

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