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Turkey Dec Inflation Eases Less Than Forecast

Turkey's consumer price inflation eased at a slower-than-expected pace in December, figures from the Turkish Statistical Institute revealed Wednesday.

Consumer prices climbed 11.92 percent year-over-year in December, slower than the 12.98 percent spike in November, which was the highest inflation since 2003.

Economists had expected the inflation to moderate to 11.85 percent.

Transport costs grew the most by 18.24 percent annually in December, followed by prices of food and non-alcoholic beverages with 13.79 percent rise.

On a monthly basis, consumer prices went up 0.69 percent in December, just above the expected increase of 0.63 percent.

Another report from the statistical office showed that producer price inflation slowed to 15.47 percent in December from 17.30 percent in November. Month-on-month, producer prices rose 1.37 percent.

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