Inflation & Prices
Turkish Inflation Slows Sharply After Interest Rate Hikes
- Year-on-year inflation fell to 52% in August from 62% in July
- High interest rates have started to weaken Turkey economy
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Turkey’s annual inflation eased sharply in August, as 50% borrowing costs filter through to the economy and dampen demand.
Price growth slowed to 52% year-on-year from 62% the previous month, state statistics office data showed Tuesday. That was in line with analysts’ forecasts, according to a Bloomberg survey.