20 minutes agoInflation in Turkey hits record level
Periskopi(4 years ago)
(4 years ago)Turkey's annual inflation rose to 73.5 per cent in May, the highest rate registered in the last 24 years. The rise in inflation is believed to be caused by the war in Ukraine, rising energy prices and depreciation of the Turkish lira. Turkey has faced inflation growth since [...]
Turkey has faced rising inflation since last autumn, and Turkey's national currency has been depreciated.
The inflation rate in May of this year is the highest rate since 1998, when inflation had been 76.6 per cent. However, inflation is projected to reach 76.55 percent.
Consumer prices have increased by 2.98 percent, the Turkish Statistics Institute said on Friday.
Meanwhile, food and transportation prices have increased by 108, 92 percent during the past year, respectively.
Turkish lira has weakened by 0.05 per cent against the US dollar, and this is the lowest level of its value since December.
Opposition lawmakers in Turkey and economists have received in reserve these figures presented by the Turkish Statistics Institute, saying they believe the real level of inflation is much higher. /rel
