US News

Turkish inflation soars 36% as lira crisis flares

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Reuters

By Daren Butler and Jonathan Spicer ISTANBUL (Reuters) – Turkey’s annual inflation soared to its highest in 19 years, data showed on Monday, laying bare the depths of a currency crisis engineered by policies that the country’s president has espoused. Consumer prices rose 36.08%, outstripping a median forecast of 30.6%, with staples such as transportation and food and drink – which took increasing shares of Turkish households’ incomes during 2021 – rising even faster. In December alone, CPI took a rare step into double-digits at 13.58%, the Turkish Statistical Institute data showed. Turkey’s li…

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