Turkey records 10-point drop in annual inflation for July
Year-on-year figure down to 61.78%, but monthly figure still rising
Year-on-year inflation in Turkey fell to 61.78% in July, down from 71.6% in June – the largest drop since December 2022, according to data published today (August 5) by the Turkish Statistical Institute (Turkstat).
It marks the second consecutive month in which there has been a fall in annual inflation, which peaked at 75.45% in May. The return by the Central Bank of the Republic of Turkey (CBRT) to orthodox monetary policy over the past year – the bank raised interest rates from 8.5% last June
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