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Wednesday, March 22, 2023

‘Caliph’ Erdogan’s Turkey’s annual inflation hits 36.08%, highest in 20 yrs

Turkey’s annual inflation has surged to 36.08 per cent year-on-year in December, the highest level since September 2002, the country’s Statistical Institute revealed.

The Institute said on Monday that the country’s consumer prices raised by 13.58 month-on-month in December 2021, Xinhua news agency reported.

The producer price index increased by 19.08 per cent on a monthly basis, with an annual rise of 79.89 per cent, it added.

Turkey’s economy saw a robust growth in 2021 as financial institutes are predicting a 9 per cent growth in the country’s GDP.

The high inflation and forex instability have however, cast a shadow over the growth in 2022.

(The story has been published via a syndicated feed with a modified headline.)

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