Turkey's inflation drops to 47.1%, lowest in 17 months, but central bank keeps high interest rates.

Turkey's annual inflation rate fell to 47.1% in November, marking its lowest level in 17 months and a sixth consecutive month of decline. Despite this drop from October's 48.6%, the central bank has kept interest rates at 50% to combat rising prices. The bank forecasts inflation to reach 44% by year-end 2024, up from a previous estimate of 38%, and 21% by 2025, compared to a prior prediction of 14%.

December 03, 2024
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