Turkish inflation soars to 36%, highest in Erdogan era

09 January 2022 - 00:00 By Reuters

Turkey’s annual inflation rate surged to 36.1% last month, its highest in the 19 years that President Tayyip Erdogan has ruled, laying bare the depths of a currency crisis engineered by the president’s unorthodox interest-rate-cutting policies.

In December alone, consumer prices took a rare step into double digits, rising 13.58%, Turkish Statistical Institute data showed this week, eating deeper into the earnings and savings of Turks rattled by the economic turmoil...

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.

Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.