Turkey saw consumer prices jumping 13.6% in a single month, from November to December last year, according to official statistics published on Monday.
That means inflation reached 36.08% over the past year — the highest annual jump since President Recep Tayyip Erdogan first came to power in 2003. Authorities also said food prices rose 43.8% in 2021.
Erdogan was holding a meeting with cabinet ministers to discuss the issue on Monday.
At the beginning of 2021, one US dollar could buy 7.4 Turkish liras. The Turkish currency has since depreciated to a record low of 18.4 liras to $1 last week. However, it has since partially rallied due to a new government scheme that has the state guaranteeing to compensate losses to people saving in liras. As of Monday, the Turkish currency traded at about 13.2 lira for $1.
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Turkey: Inflation hits Erdogan-era high of 36% | News | DW | 03.01.2022
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