Posted on 05/05/2022 6:26:43 AM PDT by Oldeconomybuyer
Consumer prices in Turkey soared nearly 70% in April from a year ago, hitting a two-decade high, official figures show.
Transport, food prices and household furnishings recorded the sharpest rise in annual inflation, with transport costs more than doubling over the year.
Countries around the world are dealing with a growing cost of living crisis.
But Turkey's problems have been made worse by its president's reluctance to raise interest rates - a commonly used tool to help cool inflation.
The cost of food and non-alcoholic drinks saw an annual increase of 89.1%, while furnishings and household equipment were up 77.64%.
On a monthly basis, prices jumped 7.25% in April, according to data from the Turkish Statistical Institute.
Facing pressure from the Turkish president, the country's central bank's has slashed rates to 14% from 19% since September.
In April it kept rates steady for the fourth month in a row, despite soaring inflation.
(Excerpt) Read more at bbc.com ...
If Turkey was attacked by Russia from behind, would Greece help?
‘What’s good for America is good for the world. What’s bad for America is horrible for the world.’ W. Churchill
BranDUHn says hold my ice cream cone........
No love lost between Greeks and Turks.
One thing for certain is that, if prices go sky high, no matter where, inflation will not be a problem for much longer, since, there won’t be anybody buying anything, and if people stop buying things, production of things stops, and when there is nothing to buy, there won’t be any prices of anything going up or down. ;)
Dr. Oz should run for office there...
coming to a theater near you....
If Turkey misleadingly calculates inflation like our Fed Reserve does, imagine how much more real inflation is for them once you factor in the price of their goat escorts! LOL
Global collapse being orchestrated in order to enact the great reset
The world starves because of one stolen election. Maybe we should treat our Oligarchs like Russia did.
I know a guy who met a girl online a few years ago, married her and moved to Turkey, her home country. He hates Trump so I’m glad to read this good news.
Venezuela on the Bosporus.
Dr. OZ needs to run for office there.
Dr. Oz should run for office in Turkey and Make Turkey Great Again.
(AHEM)
“If Turkey was attacked by Russia from behind, would Greece help?”
Oh man! :)
Well maybe Turkish made shotguns will continue to be inexpensive/ good values…
Take that Russia!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.