2018-11-05
Turkey's annual inflation rate hit 25 percent in October, hitting its highest level in 15 years, official data showed on Monday, highlighting the continuing impact of the currency crisis on the overall economy.
 
Consumer prices jumped 2.67 percent from the previous month, beating expectations of a 2 percent rise in a Reuters poll.
 
Inflation in October was driven by an increase in clothing and footwear prices by 12.74 percent from the previous month and housing by 4.15 percent.
 
There was little reaction to the lira, which weakened to 5.44 to the dollar from 5.43 lira before the figures were released. The currency has recovered recently from losses due to concerns over central bank independence and the dispute between Turkey and the United States