Inflation in Turkey increased to a maximum of 15 years

Инфляция в Турции усилилась до максимума за 15 лет

The exchange rate of the Turkish Lira in August, the record has fallen

Energy prices in Turkey rose by 21.34% in annual terms, prices for food products in the country in August rose to 19.75%.

Inflation in Turkey accelerated sharply in August 2018 on the background of the weakness of the national currency – Lira. Consumer prices in the country last month jumped by 17.9% in comparison with August of 2017, which was the highest growth since September 2003.

Analysts on average were expecting a gain of up to 17.6 percent from 15.85 percent in July, Interfax reported on Monday, September 3.

Turkey’s Central Bank today announced that it is ready to adjust monetary policy at the next meeting to be held 13 September to keep the associated inflation risks. Dynamics of inflation in recent months, “demonstrates significant risks to price stability”, reads the message of the Central Bank.

The Turkish Lira slowed down the US dollar with more than 2% to 0.3% due to the statements of the Central Bank.

Relative to the previous month, consumer prices in Turkey increased in August by 2.3%, after rising by 0.55% in July.

Energy prices in Turkey rose by 21.34% in annual terms, prices for food products in the country in August rose to 19.75%. However, the most noticeable was the growth of tariffs for transport services and 27.1%

Producer prices in Turkey in August soared by more than 32% yoy and 6.6% from the previous month.

We will remind, in August, the Turkish Lira has repeatedly hit record lows against the background of deteriorating relations with the United States.

Earlier, the U.S. Treasury imposed sanctions against the Minister of justice of Turkey and Turkish Ministry of interior within the framework of the global Magnitsky act. In the United States believe that these officials are working in governmental organisations responsible for serious human rights violations in Turkey.

Relations between the two countries deteriorated due to the fact that Turkey holds the American pastor Andrew Branson, accused of terrorism and espionage.

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