Turkish inflation accelerates to highest level since 2018 on lira woes

Turkish inflation accelerated for a sixth month in November to the highest level in three years, driven by a slump in the lira that continues to cloud consumer price outlook. Annual inflation climbed to 21.31 per cent through last month, up from 19.89 per cent in October.

Monthly inflation was 3.51 per cent, compared with the median estimate of 3 per cent in a separate survey. The lira fell as much as 1.4% after the release, nearing a record low of 13.9519 per US dollar seen earlier this week.