Turkey Travel Forum

Turkey Travel Forum => General Discussion => Topic started by: Admin on Nov 27, 2022, 04:14 PM

Title: turkey inflation rate?
Post by: Admin on Nov 27, 2022, 04:14 PM

Turkey's inflation rate is on the rise again. After a brief respite in 2016, the cost of living in Turkey is increasing at an alarming rate, with prices rising by double digits in some categories. The Turkish government is struggling to keep up with the rising prices, and has been forced to implement a series of unpopular austerity measures.

The inflation rate in Turkey is now one of the highest in the world, and is expected to continue to rise in the coming months. The main drivers of inflation are the soaring cost of food and fuel, which are both in short supply. The Turkish government has been trying to control the price of food by imposing price controls, but this has only been partially successful.

The situation is made worse by the fact that the Turkish currency, the lira, is in freefall. The value of the lira has declined sharply against the US dollar and the euro in recent months, making imported goods more expensive. This has put further pressure on prices, and is likely to fuel inflation in the coming months.

The Turkish government is caught between a rock and a hard place. If it raises interest rates to control inflation, this will only add to the currency crisis. If it doesn't, inflation will continue to spiral out of control. Either way, the Turkish people are facing a difficult time ahead.