With the covid-19 epidemic being with us for more than 1 year, the purchasing power of citizens in Turkey has experienced a significant decrease. Measures taken in the epidemic area, unemployment increased by the epidemic; apart from these increasing exchange rates, increased consumer prices considerably.
Inflation rates, which showed a positive performance in the second half of 2019 and started to recover after the rise in 2018, With the arrival of 2020, it started to rise towards double-digit numbers. Inflation that continues to increase in 2021 jumped 17.5%, the highest rate it has seen in the last 2 years. The situation took place under different headlines in the world press today. Let’s take a look at some of them.
Financial Times: “Turkish Inflation Rises to Its Highest Level for More than 2 Years”
“The increase in consumer spending after the reduction of pandemic bans undermined the efforts to deal with the ‘interest rate’ carried out by the central bank, causing Turkish inflation to reach its highest level in more than 2 years. ”
Reuters: “Turkish Inflation Surprisingly Jumps to 17.5%, Reaches the Peak of 2 Years”
Nasdaq: “Turkish Inflation Revised 17% in June”
Aljazeera: “Turkey’s Inflation Reaches 17.5%, Highest Rate in 2 Years”