Turkish inflation soars to 36%, highest in Erdogan era

Published by
Reuters

By Daren Butler and Jonathan Spicer ISTANBUL (Reuters) – Turkey’s annual inflation rate surged to 36.1% last month, its highest in the 19 years Tayyip Erdogan has ruled, laying bare the depths of a currency crisis engineered by the president’s unorthodox interest rate-cutting https://graphics.reuters.com/TURKEY-CENBANK/lbvgnlmxopq/index.html policies. In December alone, consumer prices took a rare step into double-digits, rising 13.58%, Turkish Statistical Institute data showed on Monday, eating deeper into the earnings and savings of Turks rattled by the economic turmoil. The year-over-year C…

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