Consumer prices in Turkey increased by 47.09% on an annualized basis in November, the country’s statistical institute (Turkstat) said in a report. The growth rate slowed from 48.58% in October and was the lowest since June 2023. The weakening of inflation was noted at the end of the sixth consecutive month.
The consensus forecast of experts, quoted by Trading Economics, assumed an even more significant slowdown in consumer price growth – to 46.6%.
The increase in the cost of alcohol and tobacco products in November slowed to 39.32% from 52.15% in October, communication services – to 35.71% from 37.77%, utilities – to 74.45% from 89.39%. Prices in hotels, cafes and restaurants rose by 59.39% (+62.09% a month earlier). Meanwhile, food and non-alcoholic beverages rose the most in four months, up 48.57% (+45.28% in October).
Core inflation last month was the lowest since May 2023 at 47.13% compared to 47.75% a month earlier.
Consumer prices in Turkey increased by a five-month low of 2.24% in November relative to the previous month, following an increase of 2.88% in October.
Producer prices (PPI) in the country last month rose by the lowest since February 2021 by 29.47% in annualized terms and by the lowest since May 2023 by 0.66% in monthly terms, Turkstat said. They rose 32.24% and 1.29% in October, respectively.
The Turkish Central Bank has kept its key interest rate at 50% since March this year, and the tight monetary policy has helped ease inflation. Back in June 2023, the rate was at 8.5%. Earlier Expert Club analytical center released another video analysis about the economy of Ukraine and the world. You can see more details here – https://youtu.be/grE5wjPaItI?si=8krsv_56bafIY2h_
The Franco-Ukrainian Chamber of Commerce and Industry (CCIFU) gathered CCIFU members, diplomats, friends and partners in Kyiv at the Parkovy Exhibition and Convention Center for its traditional annual Beaujolais Nouveau charity event. For the second year in a row, CCIFU will support the UNBROKEN Ukraine Foundation and its project “Prostheses for the unbroken”.
This year, the Franco-Ukrainian Chamber of Commerce and Industry also celebrates an important anniversary – 30 years of activity in Ukraine!
The event was held under the high patronage and with the participation of the Ambassador Extraordinary and Plenipotentiary of France to Ukraine, Mr. Gael Vessier, and gathered about a thousand guests.
Every year, on the third Thursday of November, all of France celebrates Beaujolais Nouveau, a festival of young wine that marks the end of the grape harvest and the beginning of a new wine year.
At this time, in the small Beaujolais region, located in the north of Lyon, one of the first grapes to ripen is the Gamay variety, which is black with white flesh.
Beaujolais nouveau wine is different from other wines in that it goes on sale immediately after the fermentation process, six weeks after harvest, and is stored for no more than six months. The tradition of this celebration was born in 1951.
The Franco-Ukrainian Chamber of Commerce and Industry in Ukraine (Chambre de commerce française en Ukraine, CCIFU) is a non-profit association designed to promote the growth of French companies’ investments in the Ukrainian economy and create favorable conditions for the development of French companies present on the Ukrainian market or wishing to start their business in Ukraine.
The Franco-Ukrainian Chamber of Commerce and Industry in Ukraine unites more than 130 companies from the agricultural sector (Limagrain[en], Euralis, Mas Seeds), banking (Credit Agricole, Ukrsibbank), automotive industry (Renault, Michelin), machine building (Schneider Electric), hospitality (InterContinental Kyiv), tourism and entertainment (France Groupe, Club Med), healthcare (Sanofi), transportation (Air France), trade and other services (Auchan, L’Oreal, Chanel, Danone, Lactalis, Leroy Merlin).
In January-November of this year, Zaporizhstal Iron and Steel Works increased its rolled steel output by 18.65% year-on-year to 2 million 192.6 thousand tons from 1 million 847.9 thousand tons.
According to the company, steel production for the period increased by 18.6% to 2 million 645.3 thousand tons, and pig iron production by 15% to 2 million 821.6 thousand tons.
In November, Zaporizhstal produced 259.6 thousand tons of iron, 227.3 thousand tons of steel, and shipped 191.4 thousand tons of rolled products.
It is also recalled that in 2023, the plant operated at an average of 70% of its capacity.
As reported, in 2023, Zaporizhstal increased its rolled steel output by 57.2% compared to 2022, to 2 million 54.7 thousand tons, steel by 65.4%, to 2 million 466.9 thousand tons, and pig iron by 35.3%, to 2 million 718.9 thousand tons.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are widely known and in demand in the domestic market and in many countries of the world.
“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%).
Metinvest Holding LLC is the management company of Metinvest Group.
In November 2024, Ukraine exported 6.2 million tons of agricultural products, which is 6.5% less than the same indicator of the previous month, but it is still a good monthly export figure, according to the Ukrainian Agribusiness Club (UCAB).
According to the report, in November 2024, Ukraine increased grain exports by 3%, of which corn accounted for 63%, wheat – 33%, and barley – 4%.
Supplies of oilseeds to foreign markets decreased by 32% to 0.8 mln tons (soybeans – 58% and rapeseed – 41%), vegetable oils – by 8% to 541.2 thsd tonnes. tons (sunflower oil – 89%, soybean oil – 9% and rapeseed oil – 2%), cake after extraction of vegetable oils – by 19% to 383.3 thousand tons (sunflower oil – 78%, soybean oil – 12%), other types of agricultural products – by 5% to 398.5 thousand tons.
“The growth is observed only in the grain group, while the rest of the categories show a decline. The biggest decline was in oilseeds, which decreased by one third. The main reason is the slowdown in rapeseed exports, as the lion’s share of it has already been exported,” commented UCAB.
The cargo turnover of Ukrainian seaports in January-November 2024 reached 89.8 million tons, which is 69.7% more than in the same period last year.
“In January-November 2024, Ukrainian seaports handled 89.8 million tons of cargo, which is significantly higher than the volume of 52.9 million tons achieved in the same period in 2023. This achievement demonstrates the resilience and efficiency of the port industry even in a difficult situation,” the Ukrainian Sea Ports Authority (USPA) said on Facebook on Monday.
Agricultural products traditionally remain the mainstay of cargo traffic, with a share of 55 million tons, the report said.
At the same time, 7.5 million tons of cargo were handled in November, up 41% year-on-year. A month earlier in October, 8 million tons of cargo were handled.
Earlier, the USPA reported that the cargo turnover of Ukrainian ports from January 1 to November 17, 2024 increased to 86.8 million tons, of which 53.5 million tons were exported.
Age-sex pyramid of the population of Ukraine for 2024 (thousand people)
Open4Business.com.ua
