The Turkish inflation rate exceeds 25% due to the weakness of the read

Turkish prices jumped by 25.2% a year in October, exceeding expectations and renewing pressure on the central bank to raise interest rates after the currency crisis that caused runaway inflation.

Consumer prices rose 2.67% in October, the Turkish Institute of Statistics announced. The change from one year to the other has accelerated, from 24.5% in September to 10.35% at the beginning of this year.

Producer prices rose 0.9% in October from September, resulting in an annual increase of 45%.

According to a Reuters survey of economists, consumer price inflation would rise at a rate of just under 24.5%. The central bank announced that it would maintain a restrictive monetary policy to reduce inflation, but it left its key rate unchanged last month, even after inflation reached its highest level in the world. 15 years old. It increased sharply in September, bringing the lira back to about 30% from the August low; still, it remains close to a third for 2018.

Murat Cetinkaya, governor of the central bank, said last week that inflation would probably be 23.5% by the end of the year, against 13.4% previously. The central bank aims for inflation of 5%.