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Inflation in Turkey exceeds 36% . one level record which hadn’t been registered for 20 years

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Inflation reached 36.08% as an annual rate in Turkey, a badger record which had not been registered for 20 years, that is, since 2002, according to the agency “Reuters”, which cites Monday, citing official data.

This inflation, which is more than seven times higher than the government’s initial target, is explained by the decline in the Turkish lira, which has lost more than 45% against the dollar. in one year.

A Reuters poll showed thatAnnual inflation rate in Turkey It is expected to break the 30% level in December for the first time since 2003 with prices in increase due to oscillations record of the Turkish lira.

In the survey, which included 13 economists, their average inflation expectations were 30.6 percent, the highest since May 2003. Expectations ranged from 26.4 to 37.3 percent.

Inflation has reached around 20% in recent months, driven by the collapse of the lira to historic lows, after the central bank cut rates by 500 basis points since September under pressure from President Recep Tayyip Erdogan.

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