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Post by sevenofnine on Nov 3, 2022 9:15:22 GMT -5
WOW Annual inflation in Turkey rose to a record 25-year-high high of 85.51% in October, according to official figures. Consumer prices also rose by 3.54% from the previous month, the Turkish Statistical Institute (TUIK) said on Thursday, driving up the price of essential goods and amplifying the country's cost-of-living crisis. The previous annual inflation record (85.67%) dates back to 1997. Analysts say the high inflation rates have been fueled by the COVID-19 pandemic and the Ukraine war, as well as Turkish President Recep Tayyip Erdogan’s belief that high-interest rates encourage inflation and lead to higher prices. www.euronews.com/2022/11/03/annual-inflation-in-turkey-reaches-record-25-year-high-of-855
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