Türkiye's inflation hits new 24-year high of 85 pct

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Türkiye's inflation hits new 24-year high of 85 pct

STORY: Türkiye's inflation hits new 24-year high of 85 pct DATELINE: Nov. 4, 2022 LENGTH: 00:00:51 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turks shopping STORYLINE: The Turkish Statistical Institute said on Thursday that Türkiye's annual inflation surged to 85.51 percent in October, the highest in 24 years. According to the data, consumer prices increased by 3.54 percent from the previous month. The highest annual price surge was in the transportation sector with 117.5 percent. The cost of food and non-alcoholic drinks increased by 99.05 percent, while furnishings and household equipment prices were up 93.63 percent. The domestic producer price index climbed 7.83 percent month-on-month in October, with an annual rise of 157.69 percent. Inflation in Türkiye has been on an uninterrupted rise since May 2021. Turkish households have seen a sharp decline in their purchasing power despite government anti-inflation measures and salary increases. Xinhua News Agency correspondents reporting

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