2018-11-05
Turkey's annual inflation rate hit 25 percent in October, reaching 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 increase in a Reuters poll.
 
Inflation in October was the result of higher clothing and footwear prices, up 12.74 percent from the previous month and housing at 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.
 
The currency has recovered recently from losses due to concerns over central bank independence and the dispute between Turkey and the United States