AGL 38.01 Decreased By ▼ -1.57 (-3.97%)
AIRLINK 126.52 Decreased By ▼ -4.70 (-3.58%)
BOP 6.85 Increased By ▲ 0.04 (0.59%)
CNERGY 4.44 Decreased By ▼ -0.27 (-5.73%)
DCL 7.90 Decreased By ▼ -0.54 (-6.4%)
DFML 37.32 Decreased By ▼ -4.15 (-10.01%)
DGKC 78.00 Decreased By ▼ -4.09 (-4.98%)
FCCL 30.93 Decreased By ▼ -2.17 (-6.56%)
FFBL 69.99 Decreased By ▼ -2.88 (-3.95%)
FFL 11.94 Decreased By ▼ -0.32 (-2.61%)
HUBC 104.60 Decreased By ▼ -6.14 (-5.54%)
HUMNL 13.60 Decreased By ▼ -0.91 (-6.27%)
KEL 4.65 Decreased By ▼ -0.54 (-10.4%)
KOSM 7.17 Decreased By ▼ -0.44 (-5.78%)
MLCF 36.90 Decreased By ▼ -2.00 (-5.14%)
NBP 66.35 Increased By ▲ 2.34 (3.66%)
OGDC 181.50 Decreased By ▼ -11.32 (-5.87%)
PAEL 24.40 Decreased By ▼ -1.28 (-4.98%)
PIBTL 7.21 Decreased By ▼ -0.13 (-1.77%)
PPL 144.49 Decreased By ▼ -9.58 (-6.22%)
PRL 24.51 Decreased By ▼ -1.32 (-5.11%)
PTC 16.49 Decreased By ▼ -1.32 (-7.41%)
SEARL 78.70 Decreased By ▼ -3.60 (-4.37%)
TELE 7.30 Decreased By ▼ -0.46 (-5.93%)
TOMCL 32.00 Decreased By ▼ -1.46 (-4.36%)
TPLP 8.15 Decreased By ▼ -0.34 (-4%)
TREET 16.50 Decreased By ▼ -0.12 (-0.72%)
TRG 54.75 Decreased By ▼ -2.65 (-4.62%)
UNITY 27.56 Increased By ▲ 0.05 (0.18%)
WTL 1.32 Decreased By ▼ -0.05 (-3.65%)
BR100 10,151 Decreased By -353.5 (-3.36%)
BR30 29,696 Decreased By -1530.2 (-4.9%)
KSE100 95,243 Decreased By -2836.9 (-2.89%)
KSE30 29,678 Decreased By -880.5 (-2.88%)

Turkish consumer prices rose 11.92 percent in December, official data showed on Wednesday, exceeding Reuters poll predictions and sharply above a government forecast, although below a 14-year peak a month earlier. High inflation is one of the biggest challenges facing the Turkish economy, which has grown strongly after a short-lived downturn following a failed coup in July 2016.
The consumer price index rose 0.69 percent month-on-month in December, the Turkish Statistical Institute said, exceeding a forecast rise of 0.5 percent in a Reuters poll. The government's medium-term programme in September forecast end-2017 inflation of 9.5 percent, while the central bank has an official target of 5 percent, which it has repeatedly failed to meet.
Food and non-alcoholic drinks prices fuelled the inflation with a 1.52 increase month-on-month in December, the data showed. Transport prices rose 1.69 percent. Economists have said the central bank needs to raise interest rates decisively, to underpin the lira currency and arrest price increases. The 14-year inflation peak hit in November added to the pressure, while the central bank's subsequent 50-basis point interest rate hike, its first increase in eight months, was less than expected. Producer prices rose 1.37 percent month-on-month in December for an annual rise of 15.47 percent.

Copyright Reuters, 2018

Comments

Comments are closed.