Turkish official inflation rises to 10.45 % in December

Turkish consumer prices rose by 0.58 percent in December from the November level, increasing 12-month inflation to 10.45 percent, official data showed Tuesday. Factory gate prices rose by 1.0 percent in the month, marking a 12-month increase of 13.33 percent, the Turkish Statistics Institute said on its website. The biggest monthly increase in consumer prices was the 1.97 percent increase in food and non-alcoholic beverages, it said. The prices of tobacco products and alcoholic beverages rose 18.50 percent since December 2010, the data showed, marking the biggest yearly increase in consumer prices. Turkey’s inflation stood at 6.4 percent in 2010, in line with the government’s target of 6.5 percent. The inflation rate targeted by the central bank for 2011 was 5.5 percent. Turkey’s economy staged a spectacular recovery from the global crisis, with gross domestic product growing 8.9 percent last year.