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Turkey Inflation Accelerates Further To 25.24% On Lira Weakness

Turkey's inflation accelerated for a seventh straight month and remained at a high level in October, as the impact of weakness in the lira set in, figures from the Turkish Statistical Institute showed on Monday.

The consumer price index rose 25.24 percent year-on-year following a 24.52 percent increase in November. Economists had forecast a rate of 24.70 percent.

On a month-on-month basis, the CPI climbed 2.67 percent in October after a 6.30 percent rise in September. Economists had forecast a 2.5 percent increase.

Domestic producer prices rose 45.01 percent year-on-year in October, which was slower than the 46.15 percent increase in the previous month.

Compared to the previous month, producer prices rose 0.91 percent.

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