The Magazine for Asian Investors
The National Bureau of Statistics of Turkey reported that inflation in Turkey increased by almost 79% in June, the highest level in 25 years.
The inflation rate in Turkey was 78.62% in June, which was above analysts’ expectations.
Rising inflation has hit Turkey’s 84 million inhabitants hard. There is little hope that the situation will improve soon. Due to the effects of the Russian-Ukrainian war, prices for energy and food are skyrocketing.
Prices for transportation also increased by 123.37%, while food and non-alcoholic beverages increased by 93.93%.