Data puts Turkey's annual inflation at 78.6 per cent, a 24-year high
The Turkish leader insists that high borrowing costs cause inflation - a position that contradicts established economic thinking - and advocats lowering interest rates to boost growth and exports.
Data puts Turkey’s annual inflation at 78.6%, a 24-year high
Annual inflation in Turkey hit 78.62% in June, the highest rate since 1998. The Turkish Statistical Institute released the monthly figures on Monday. Turkey is experiencing a deepening cost-of-living crisis.