Turkey’s inflation rate soars to almost 70 percent
Al JazeeraMAR 28 2022
Spiralling inflation isn't specific to Turkey. Besides, it's temporary and is expected to begin to recede starting in May. The government has implemented tax cuts on basic goods and adjusted electricity tariffs to mitigate the effect of the cost of living crisis for Turkish households
The central bank's response to this dizzying crisis is too little too late. Erdogen has made repeated empty promises to act on price increases that have been plaguing citizens for months.