Annual inflation in Turkiye accelerated in August

Annual inflation in Turkiye in August accelerated to 80.25% from 79.6% in July, according to the country’s Institute of Statistics, Report informs citing Turkish media.

“Inflation in Turkiye in annual terms accelerated in August to 80.21%,” the report says. The growth of consumer prices in just a month amounted to 1.46%.

The Central Bank of Turkiye earlier cut the discount rate to 13%, while consumer price growth is accelerating, and the national currency is weakening. While at the end of January, the exchange rate was about 13.5 Turkish liras per dollar, at the end of February it was already 14 liras, and now it exceeds 18 liras.