reach inflation in Turkey During February 2022, the highest rate in two decades on an annual basis, statistics agency figures showed today, Thursday, once morest the backdrop of President Recep Tayyip Erdogan’s unconventional decisions regarding reducing interest rates, and the weakness of the currency, according to “AFP”.
Consumer prices rose by 4.8% in February to record 54.4% over a year, according to the data.
Turkish Finance Minister Nureddin Nabati told economists in January that he expected the inflation rate to peak at around 40% in the coming months and not to exceed 50% this year, according to people who attended the meeting who spoke to Bloomberg at the time.
Nabati presented his most detailed forecasts so far for consumer prices in 2022 during a meeting with 60 economists and analysts, noting that the inflation rate may not drop below 30% until the end of the year, according to one of the sources.
