Inflation in Turkey fell to 64.27% in December

Turkey’s annual inflation fell to 64.27 percent in December, official data showed on Tuesday, below expectations, after hitting a 24-year high in October.

The Turkish Statistical Institute said consumer prices rose 1.18 percent month-on-month, compared to the 2.7 percent expected in a Reuters poll.

On an annual basis, expectations were for consumer price inflation of 66.8 percent. Inflation hit a 24-year high of 85.51 percent in October.

The domestic producer price index fell 0.24 percent month-on-month in December, after rising 97.72 percent year-on-year.