Turkey's August CPI increased by 80% year -on -year

Xinhua News Agency, Ankara, September 5 (Reporter Xiong Sihao) According to data released by the Turkish Bureau on the 5th, the Turkish consumer price index (CPI) increased by 80.21%year -on -year, setting a record in 24 years.

Data show that compared with the same period last year, Turkey's traffic prices rose 116.87%in August, significantly higher than the overall inflation level that month. In addition, the price of furniture and home equipment rose 92.02%in the month, and the price of food and non -alcoholic beverages rose 90.25%. Analysts predict that the inflation rate of Turkey may continue in September.

Since the beginning of this year, the inflation rate of Turkey has remained high, of which the CPI has increased by more than 70%year -on -year CPI. Nevertheless, Turkey still adheres to low interest rate policies to help the economy recover from the impact of the new crown epidemic. From September to December last year, the Turkish central bank continued to cut interest rates, and the benchmark interest rate was reduced by 500 basis points. This year, after the main interest rate for seven consecutive months, the Ministry of Turkey announced in August that it announced that it would reduce interest rates to 100 basis points to 13%.

On the 4th of this month, the Turkish government announced the economic planning of 2023-2025. It is expected that the inflation rate this year is 65%, and the plans of 2023, 2024 and 2025 will be reduced to 24.9%, 13.8%and 9.9%, respectively

[Editor in charge: Wang Yan]

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