By Joshua KirbyTurkish price rises picked up pace again in November, a sign the central bank might have to keep tightening its monetary policy as it struggles to tame soaring inflation. Food inflation eased a little, standing at 67.2%, while services like education, health and hospitality booked much higher rates above 80%. At the other end of the scale, housing and apparel saw the lowest rates of inflation at 37.5% and 40.7%, respectively. The Turkish central bank in the middle of this year embarked on a program of sustained interest-rate increases in a bid to take heat out of the economy and cool price inflation. The markets remain uncertain about whether the central bank will stay the course, said Bartosz Sawicki, market analyst at fintech firm Conotoxia.

Source: Wall Street Journal December 04, 2023 07:57 UTC