Turkey's annual inflation hits nine-year peak with 12.98 pct

ANKARA, Dec. 4 (Xinhua) -- Turkey's annual inflation reached 12.98 percent in November and hit a nine-year peak, the Turkish Statistical Institute stated Monday.

Annual inflation stood at 11.90 percent in October.

Inflation rose steadily during 2017, from 9.22 percent in January to November's 12.98 percent.

Following the announcement, the U.S. dollar increased its gains against the Turkish lira on Monday, reaching as high as 3.9417.

The Turkish lira fall to 3.9390 against the dollar at Monday's opening, compared to 3.9135 on Friday's close.