Inflation rate in Turkey exceeded 50%

The resignation of the head of Turkey’s central statistical bureau after criticism from President Recep Tayyip Erdogan did not help reduce inflation in the country.

According to the Turkish Central Bank, in February, the consumer price index in the country rose by 54.4% compared to February 2021, exceeding analysts’ forecasts by 2%.

In parallel, the Turkish lira continues to move to a historical low, from which it was pushed back by Erdogan’s program to provide state guarantees for bank deposits. Over the past day, the lira has fallen in price by 0.8% to 14.13 lira per dollar.

By Editor

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