Inflation In Turkey Explodes To 36.1%

 

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