Turkish inflation hits three-year peak at 21.31 per cent in November

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The annualized rate of increase in Turkey’s consumer prices hit a three-year high at 21.31 per cent in November, according to government data. Inflation was up by 3.51 per cent in November compared to a month ago, the Turkish Statistical Institute (TurkStat) said. Restaurants and hotels, foodstuffs and home appliances were among the items that saw the largest year-on-year increases, TurkStat said. The Turkish economy is already struggling with a meltdown in the lira, high foreign debt and unemployment, also taking a toll on households. Protests erupted last week in large cities, including Ista…

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