Turkey’s annual inflation rate is expected to hit 30.6% in December, according to a Reuters poll.
More Details🧐 Turkey’s inflation was around 20% in recent months due to the Turkish lira (TRY) sliding to record lows amid aggressive volatility. Turkey’s central bank said that temporary factors were driving prices higher & expects inflation to follow a volatile course in the short term.
Turkish inflation data is expected to be released on January 3rd, 2022.
Why is this Important🤔 The TRY fell as much as 2.6% on Wednesday after showing signs of rebounding last week. The drop comes as worries persisted over soaring inflation & President Erdogan’s unorthodox monetary policy.
