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”