Turkey’s annual inflation hits nine-year peak in October

Annual inflation in Turkey spiked to a nine-year high of 11.9 percent in October, Hurriyet Daily News reports. Transportation, clothing and food prices each rose sharply, and the cost of fuel also went up as the lira remained weak. Subsequently, Turkey’s central bank raised its inflation forecast from 8.7 percent to 9.8 percent for 2017 and from 6.4 percent to 7 percent for 2018.

 

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