Per data that was released on July 4, 2022, Turkey’s annual inflation rate stands around 78.6%. According to The Crade’s News Desk , consumer prices increased by 5%.
Turkey’s inflation woes are largely the product of the expansionary monetary policy its central bank has pursued. Turkey’s central bank has been slashing interest rates as part of a new strategy of promoting economic growth. Several economic experts argue that inflation could reach 100% by this fall.
The highest increases in prices took place in June in the transportation sector, which grew by 10% on a monthly basis. Similarly, fuel prices surged by […]
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