Turkish inflation slows to 11.9% in December

Turkey's inflation slowed to an annual 11.9 percent in December from 13 percent the previous month, led by a decline in the price of clothing.

Prices gained 0.7 pecent month-on-month, the statistics office in Ankara said on Wednesday.

Core inflation, which excludes volatile items such as food and energy prices rose to 12.3 percent yearly, the highest level since records began 13 years ago, from 12.1 percent.

Producer price inflation was an annual 15.5 percent in December, slowing from 17.3 percent the previous month.

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