Inflation in Turkey Rose to 14.6% in December

The Turkish Statistical Institute data revealed on Monday that the inflation rate rose more than expected to 14.6% year on year in December, keeping pressure on the central bank to tighten monetary policy.

On a monthly basis, the consumer price index rose 1.25% in December.

A Reuters poll predicted that inflation would increase 14.2% year on year, compared with 14% in November, while the monthly rate would rise 0.9%.

The data showed that the producer price index rose 2.36% in December on a monthly basis and 25.15% annually.