BBC: Turkey's inflation hits 36% amid financial turmoil
Turkey's annual inflation rate has soared to a 19-year high, underlining the country's financial turmoil and alarm over its president's policies.
Prices hit more than 36% December as the cost of transport, food and other staples ate into household budgets.
Most central banks raise interest rates to help cool inflation but Turkey has gone the other way.
It has meant a collapse in the value of the lira, as Tayyip Erdogan prioritises exports over currency stability.
The lira shed 44% of its value against the dollar last year, and fell another 5% on Monday before recovering to trade flat.
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WNU Editor: Turkey's President is sad .... Turkey's Erdogan says he is saddened by inflation at 36% in 2021 (Reuters).
Inflation In Turkey Explodes To 36.1%
Turkey inflation surges 36% amid lira crisis, highest since 2002 -- CNBC/Reuters
Turkish inflation hits 19-year high in lira crisis -- AFP
Turkey's inflation soars to 36%, setting a new record for Erdogan era -- CNN
Turkey: Inflation hits Erdogan-era high of 36% -- DW
Inflation In Turkey Explodes To 36.1%, Blowing Away Estimates, As Hyperinflation Sets In -- Zero Hedge
1 comment:
Eh Erdogan, one more effort and you will be on same class of Maduro!
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