ENAG announces November inflation at 4.06 percent

The Inflation Research Group (ENAG), formed independently by academics and economists, has announced the results of its latest November inflation research. The ENAG Consumer Price Index (E-CPI) increased by 4.06 percent in November. The 12-month increase in the E-CPI was recorded at 86.76 percent.

According to ENAG, inflation had increased by 5.57 percent in October, with the annual inflation rate recorded at 89.77 percent.

WHAT DID THE LEADING DATA INDICATE?

According to data from the Istanbul Chamber of Commerce (ITO), inflation in Istanbul showed a monthly increase of 3.07 percent in November. Annual inflation was announced at 57.99 percent. According to the ITO, the highest price increases occurred in clothing and rent items.

ECONOMISTS' INFLATION EXPECTATIONS

The average November inflation expectation of economists participating in the AA Finance survey was 1.98 percent. Economists' inflation expectations for November ranged between 1.70 percent and 2.54 percent. Based on the average of economists' November inflation expectations (1.98 percent), it was projected that the annual inflation rate, which was 48.58 percent the previous month, would fall to 46.71 percent.

News Source: 12punto