Latest Turkey Inflation Rate of 79.6% the Highest in 24 Years — Weakening Lira and Russia-Ukraine War Blamed

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According to the latest data from the Turkish Statistical Institute, the country’s annual inflation rate for the month of July was 79.6%, the highest in 24 years.

Rising transportation costs, food and non-alcoholic beverages were some of the product categories that contributed to the overall rate increase.

Despite the rate’s rise to levels last seen in 1998, the Turkish central bank has reportedly said it expects this to drop to 42.8% by the end of 2022.

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Author / Journalist: Terence Zimwara

Category: Crypto

Topics: ​​Turkish Statistical Institute Lira Inflation rate Economics Lira depreciation Consumer price index

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-06, 07:30:18

News Timezone: GMT +8:00

News Source URL: news.bitcoin.com

Language: English

Reading Time: 3 minutes read

Article Length: 373 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 116857

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