Inflation figures announced

The CPI in November 2020 (2003 = 100) increased by 2.30 per cent over the previous month, 13.19 per cent over the previous year, 14.03 per cent compared to December of the previous year and 12 per cent over the twelve month average.

Very low increase in alcoholic beverages and tobacco group

Other major groups with lower growth compared to the same month last year were clothing and footwear with 0.99 per cent and 5.19 per cent with communication and education at 7.00 per cent respectively. The major groups with the highest growth compared to the same month last year were 29.42 per cent, various goods and services 21.08 per cent and food and beverages 18.67 per cent respectively.

The only group showing a month trained with 0.19 percent

In terms of major spending groups, education is 0.19 per cent, the only major category that will be lower by November 2020. Although the major group, alcohol and tobacco, remained unchanged on a monthly basis, the groups with the lowest increase were 0.12 per cent and health 0.80 per cent. At the same time, the highest growth groups in November 2020 were 4.51 per cent with transport, 4.16 per cent with food and beverages and 1.69 per cent with household appliances.

Special Coverage CPI Indicator (B) Annual Increase 13.72%, Monthly 2.14%

Excluding unprocessed food products, energy, beverages, tobacco and gold, the CPI in November 2020 was 2.14 per cent higher than the previous month, 13.26 per cent higher than the previous year and 13.72 per cent higher than the twelve-month average compared to the previous year.

Explanation from Elvan

Treasury and Finance Minister Lotfe Elvan made statements on inflation at 14.03 per cent.

Elvan said our fiscal policy tools will be coordinated and used to better manage inflation expectations and establish price stability.

Inflation in November rose to 14.03 per cent above market expectations, reflecting the impact of food, oil prices and exchange rates.

We are working with all our might to mitigate the effects of high inflation on our citizens.