Turkey’s inflation rate up to 25.24 pct in October

ISTANBUL, Nov. 5 (Xinhua) — Turkey’s annual inflation climbed to 25.24 percent in October, mainly driven by growing prices in clothing and footwear, according to data released on Monday.

On a monthly basis, the costs of clothing and footwear rose by 12.74 percent in October, said the figures unveiled by the Turkish Statistical Institute.

The consumer price index grew by 2.67 percent during the month, while the prices of housing and household goods increased by 4.15 percent and 3.44 percent respectively.

The prices of food and non-alcoholic beverages, meanwhile, soared by 3.22 percent while the costs of entertainment and culture increased by 2.07 percent in October.

Transportation is the only sector that grew by a meagre 0.85 percent in price in the month.

Turkey had an inflation of 24.52 percent in September, the highest since 2003.

Minister of Treasury and Finance Berat Albayrak announced last month a series of new measures to fight inflation. He also urged Turkish firms in all sectors to cut prices by at least 10 percent to mitigate the rising inflation.

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