Inflation in Turkey is at its highest level in nearly a quarter of a century

Inflation in Turkey reaches its highest level in 24 years

photo released, Reuters

Turkey’s inflation rate rose to more than 85 percent in October, its highest level in nearly 25 years.

The cost of transportation and food has jumped significantly during the past month compared to what it was during the same month last year.

Meanwhile, the Turkish Central Bank continues its policy of lowering the interest rate, despite the high inflation rates.

Most other countries do the opposite to reduce consumer spending, thus reducing price increases.

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