Türkiye's official inflation rate surpasses 85 percent

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The Turkish Statistical Institute (TurkStat), the country's statistical authority, and the Inflation Research Group (ENAG), an independent group of economists, released their calculations of the inflation rate in October.

According to the official figures, the monthly inflation rate was 3.54 percent and the annual rate was 85.51 percent last month.

The ENAG said the monthly increase in inflation was 7.18 percent and the annual inflation was 185.34 percent.

TurkStat did not disclose the baskets of goods and services, as it hasn't for months.

According to the TurkStat figures, the highest price increase was in transportation with 117.15 percent and the lowest increase was in communication with 33.48 percent.

According to the ENAG, housing prices dropped by 1.92 percent in October compared to the previous month. (HA/VK)