SendStory Logo

Turkey inflation at new 24-year high of 83% after rate cuts

Reuters LogoReuters2 mo ago

Turkey inflation at new 24-year high of 83% after rate cuts

Quick Summary

Last year's rate cuts had triggered a currency crisis that wiped 44% off the lira's value against the dollar in 2021.

The government has said inflation will fall with its economic programme prioritising low rates to boost production and exports with the aim of achieving a current account surplus.

It was the highest annual figure since July 1998, when it stood at 85.3% and Turkey was battling to end a decade of chronically high inflation.


More Pictures

News Analysis

Category: Finance Business

Topics: People Forecast Reuters Bank News Annual Prices Rate Inflation September Last

Source Website Secure: Yes (HTTPS)

Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

News Source URL: reuters.com

Readership Location: United States

Published Date: 2022-10-03, 07:42:00

News Timezone: GMT -5:00

Language: English

Original Article Length: 416 words

Reading Duration: 3 minutes read

Compatibility: Desktop Web, Mobile Web, iOS App, Android App

News ID: 2790623

Load More

About Publisher

Reuters Logo

Name: Reuters

Main Topics: FinanceBusiness

Official Website: reuters.com

Update Frequency: 52 posts per day

Last Update: 11h ago

Headquarters: United States

Coverage Areas: United States

Publication Owner: Independent Company

Publication Timezone: GMT -5:00

Languages Covered: English

RSS Feed: Available (XML)

API Available: Yes

Website Security: Secure (HTTPS)

Publisher ID: #76

Load More

SendStory makes reading the news super fast, short, and sweet by summarizing every story into 3 sentences. Our mission is to create an informed generation of people by making news extremely easy to read, while saving your precious time staying informed.

© Copyright 2022 SendStory. All Rights Reserved.