Turkey's annual inflation rate surged to its highest level in December since 2002, official data showed Monday, after a currency crisis late last year.
Consumer prices jumped to 36.1 percent last month from the same period in 2020, up from 21.3 percent in November, according to the Turkish statistics office.
Meanwhile, Turkish factory activity grew in December as firms hired more staff to expand their capacity despite a slowdown in actual output and new orders amid lira swings, a survey showed on Monday.
The Purchasing Managers' Index (PMI) for manufacturing ticked up to 52.1 in December from 52.0 a month earlier, data from the Istanbul Chamber of Industry and IHS Markit showed, holding comfortably above the 50.0 mark that denotes growth.
The pace of job creation was the fastest since August.
Lira depreciation pushed input costs up at the fastest rate on survey records going back to 2005, the panel said, and in turn manufacturers raised output prices, deterring customers.
