Turkey's Inflation Rate Rises to 12.43%
Latest Figures from the Turkish Statistical Institute
Monthly and Annual Inflation Rates
The Turkish Statistical Institute (TurkStat) has released its latest figures on Turkey's inflation rate, showing an annual increase of 12.43% as of December 2022. This represents a slight increase from the previous month's rate of 12.33%.
The rise in inflation is primarily attributed to increases in food and energy prices. Food prices have risen by 13.49% year-over-year, while energy prices have jumped by 18.48%.
The high inflation rate is a concern for policymakers, as it erodes the purchasing power of consumers and businesses. The Central Bank of Turkey has raised interest rates in an effort to curb inflation, but this has not yet had a significant impact.
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