Turkish inflation soars to 36% as financial turmoil continues

Turkish inflation soars to 36% as financial turmoil continues

Turkish inflation soars to 36% as financial turmoil continues

France24 says Turkey’s annual inflation rate surged to its highest level since 2002, official data showed Monday, propelled by a currency crisis linked to President Recep Tayyip Erdogan’s unconventional economic approach.

Consumer prices soared by 36.1 percent last month from the same period in 2020, up from a 21.3-percent yearly increase in November, according to the Turkish statistics office.

The figure is the highest since October 2002, the month before Erdogan’s Islamic-rooted party swept to power in the wake of another Turkish economic crisis.

https://www.france24.com/en/europe/20220104-turkish-inflation-hits-36-nearing-20-year-high-as-lira-crisis-continues


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