Inflation in Turkey well over 40 percent
Published: Tuesday, Dec 3rd 2024, 10:20
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Life is becoming more and more expensive for people in Turkey. Prices are rising many times faster than in Switzerland - even though inflation is easing.
The very high inflation in Turkey continues to weaken only slightly. In November, consumer prices rose by around 47.1 percent compared to the same month last year, according to the statistics office in Ankara on Tuesday.
Although this is the lowest inflation rate since last summer, the decline in inflation has weakened more and more in recent months. By way of comparison, November inflation in Switzerland was 0.7% and in Germany 2.2%.
In Turkey, the strongest price drivers year-on-year are the costs of school education, household management and visits to restaurants. The country's central bank has been fighting inflation by raising interest rates. The Turkish key interest rate has been at 50 percent since March.
©Keystone/SDA
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