Official data released yesterday showed that annual consumer price inflation in Turkey rose to 58.94% last August, exceeding expectations and rising for the second month in a row. Due to the depreciation of the lira and the recent increase in taxes.
Turkish Statistical Institute data on inflation rates:-
According to data from the Turkish Statistical Institute, the consumer price inflation rate was 9.09% on a monthly basis, down slightly from 9.49% in the previous month.
Inflation rose after the currency crisis at the end of 2021 and touched its highest level in 24 years at 85.51% last October.
The dollar is always a reason:-
According to the data, the lira fell slightly after the release of inflation data, to 26.78 against the dollar.
The domestic producer price index rose by 5.89% on a monthly basis in August, recording an annual increase of 49.41%.
