Turkey’s Inflation Rate Surged to 78.6% in June with Energy Soaring 151.3% and Food Prices 94%

Turkey has seen prices rise and rates not seen for twenty-five years with the Turkish Lira collapse sending imported goods sky high. Turkish annual inflation accelerated for a 13th straight month to 78.6% in June. Staples such as transportation and food are rising at an even faster rate. Energy prices soared 151.3% from a year earlier, while food inflation reached almost 94%.  The International Monetary Fund estimates Turkey will have the world’s highest inflation this year after Venezuela, Sudan and … Continue reading “Turkey’s Inflation Rate Surged to 78.6% in June with Energy Soaring 151.3% and Food Prices 94%”

Turkey’s Inflation Rate Surged to 36.1% in December as Lira Crashed

Turkey has seen prices rise and rates not seen for twenty years as the Turkish Lira collapse sending imported goods sky high. Turkey’s annual inflation rate stood at 36.1% in December, for the month consumer prices rose 13.58%. Staples such as transportation and food are rising at an even faster rate. The annual CPI was the highest since 37.0% in September of 2002, two months before President Erdogan’s AK Party first came to power. Soaring import prices pushed the December’s … Continue reading “Turkey’s Inflation Rate Surged to 36.1% in December as Lira Crashed”