| Turkey's inflation reaches higher-than-expected 10.45% in December |
| Last Updated(Beijing Time):2012-01-04 12:56 |
|
|
Turkey's consumer price index, a measure of inflation, rose 10.45 percent year-on-year in December 2011, which was 0.45 percent higher than an estimation earlier, the government-backed Turkish Statistics Institute (TurkStat) announced Tuesday.
This the first time Turkey saw double-digit monthly inflation in one and a half years, according to the TurkStat.
The inflation maintained below 5 percent in the first quarter of 2011, while it picked up speed since the second quarter and contributed to the annual inflation to reach 6.47 percent.
Analysts in the Central Bank of Turkey attributed the inflation hike at the end of 2011 mainly to an increase in the value of foreign exchange against the Turkish lira.
The exchange rate of the U.S. dollar hit an all-time high against the Turkish Lira to reach 1.92 on last Wednesday's trading. |
|
|
|
|
