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Yearly inflation in Turkey rises to new 24-year high of 85%

November 3, 2022

Via: ABC News
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Annual inflation in Turkey continued to rise in October, official figures showed Thursday, pushing the price of essential goods higher and amplifying a cost-of-living crisis in the country.

Consumer prices rose to 85.51% in October from a year earlier, and by 3.54% from the previous month, the Turkish Statistical Institute said.

The inflation rate was the highest in 24 years.

Experts, however, maintain that inflation is much higher than the official figures. The independent Inflation Research Group on Thursday put the annual rate at 185%.

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