Turkish inflation hits 25% in Oct

Turkish annual inflation surged to 25 per cent in October, official data showed on Monday, hitting its highest in 15 years and underscoring the sustained impact of a currency crisis as the wider economy loses pace. Month-on-month, consumer prices jumped 2.67 per cent, the Turkish Statistical Institute data showed, higher than the 2.0 per cent forecast. Turkey will record negative GDP growth this quarter and the next, discouraging any central bank move to hike rates in response to high inflation.