The impact of natural gas on November inflation
Evaluating November inflation, the CBRT emphasized the impact of natural gas bills while noting that alternative indicators also point to a slowdown in inflation.
12punto
The Central Bank of the Republic of Turkey (CBRT) has published its inflation evaluation for November.
In the bank's assessment, it was stated that while annual inflation declined in the food and core goods groups, it rose in other main groups, particularly energy.
Stating that the free usage limit for natural gas (the first 25 cubic meters) was exceeded due to increased consumption linked to seasonal conditions in the energy group, the CBRT expressed that the impact of the natural gas item on monthly consumer inflation was in line with forecasts, at 1.01 percentage points.
Predicting that the contribution of natural gas to monthly inflation will weaken in December, the CBRT stated that when the natural gas effect is excluded, the deceleration trend in the consumer price increase rate continues.
According to the CBRT's assessment, while fresh fruit and vegetable prices recorded a decline in the food group in November, price increases in non-fruit and vegetable food items maintained their momentum.