Inflation in Turkey fell for the fourth consecutive month in February to reach its lowest level in the last year, according to figures released today by the Turkish Statistical Institute (TÜİK). Prices in the Eurasian country increased by 55.2% in February compared to February 2022, after having reached a record rise of 85.5% in October. In relation to the previous month, prices nevertheless increased by 3.15%, especially – as usual – prices of food (7.36%), followed by education (5.69%) and restaurants (4.07%). Economists warn that the huge spending planned by the government to face the reconstruction after the earthquake could boost domestic consumption and industrial production, thus increasing inflationary pressures.
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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