- Turkish consumer prices accelerate less than expected
- Turkey’s central bank last raised the benchmark rate to 50%
Turkey’s inflation rate rose for a fifth straight month, edging closer to 70% despite a series of aggressive interest-rate hikes.
Consumer inflation quickened to 68.5% in March, slightly less than expected by analysts but up from 67.1% in February. The median estimate in a Bloomberg poll of economists was 69.1%.
Services, education and food were among the key contributors. Core inflation, which strips out volatile items like food and energy, quickened to the highest on record to 75.2%, up from 72.9% in February.
Monthly inflation — policymakers’ preferred gauge — slowed to 3.16% from 4.5% the previous month and recorded the lowest reading since December.
Clearly only Erdogan can fix this. If he embezzles some more earthquake funds it will all work out.
I really still can’t believe he is winning all these elections. I’m Turkish, and supporting Erdogan in Turkiye is like supporting Trump in the U.S., most people hate him and his supporters. And as some clear changes across the percentage of people that voted for Erdogan after re-elections suggest, most likely he’s still president only because he keeps rigging them.
You’d think, right? I assumed he was done after the earthquake, but I thought Trump was done after Jan 6, so never underestimate the capacity of the conservative voter to not care about anything that matters I guess.