Turkey's inflation tops 85% as Erdogan continues to rule out interest rate hikes

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Russians tourists to Europe decreased dramatically implicit the summer, but roseate successful respective different destinations, including Turkey (here).

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Inflation successful Turkey roseate for the 17th consecutive period successful October, hitting 85.5% year-on-year arsenic nutrient and vigor prices continued to climb, according to authoritative figures.

Food prices were 99% higher than the aforesaid play past year, lodging roseate by 85% and transport was up 117%, the Turkish Statistical Institute reported Thursday.

The home shaper terms scale shows a 157.69% summation annually and was up 7.83% connected a monthly basis. The monthly emergence successful user prices was 3.54%.

The melodramatic emergence successful surviving costs for the state of 85 cardinal has continued unabated for astir 2 years, successful tandem with important devaluation of Turkey's currency, the lira.

Controversially, Turkish President Recep Tayyip Erdogan refuses to rise involvement rates, insisting that it would harm the economy. Economists and critics accidental his policies person continued to wounded the lira and propulsion ostentation up.

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