Inflation falls in Turkey

Published:

Inflation falls in Turkey
Photo: Francisco Seco/AP/TT

Inflation pressure in Turkey decreases more than expected, which raises hopes for new interest rate cuts. In December, consumer prices rose by 44.4 percent on an annual basis, compared to 47.1 percent in November. Analysts had, according to Bloomberg, expected an inflation rate of 45.2 percent.

The Turkish central bank implemented its first interest rate cut in two years when it lowered the key interest rate by 250 points to 47.5 percent over the Christmas holidays. Many economists now believe that another interest rate cut may be imminent at the next interest rate decision at the end of January.

Turkey has for a long time struggled with extremely high inflation, a consequence of President Recep Tayyip Erdogan's economic policy, which was intended to stimulate economic growth through low interest rates.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Clas Ohlson Warehouse Staff Face Termination Over New Agreement

Clas Ohlson Warehouse Staff Face Termination Over New Agreement

Stockholm Leads Europe in Stock Market Growth with Verisure Listing

Stockholm Leads Europe in Stock Market Growth with Verisure Listing

Oskarshamn Nuclear Reactor Restart Delayed Again

Oskarshamn Nuclear Reactor Restart Delayed Again

Financial Supervisory Authority Warns of Growing Scam List

Financial Supervisory Authority Warns of Growing Scam List

Service Sector Shows Clear Recovery in September Index

Service Sector Shows Clear Recovery in September Index

Second-Highest Rent Increase in Over 20 Years Reported This Year

Second-Highest Rent Increase in Over 20 Years Reported This Year

Stockholm Stock Market Rises for Sixth Consecutive Day

Stockholm Stock Market Rises for Sixth Consecutive Day

International Flights Rise in Sweden This Year

International Flights Rise in Sweden This Year

Japanese Stock Market Rises as Technology Shares Surge

Japanese Stock Market Rises as Technology Shares Surge

Swedish Apartment Prices Drop Since 2021: Where They Fell Most

Swedish Apartment Prices Drop Since 2021: Where They Fell Most

Lyten Signs Collective Agreement After Northvolt Acquisition

Lyten Signs Collective Agreement After Northvolt Acquisition

Democrat Urges Trump to Release Job Figures Amid Government Shutdown

Democrat Urges Trump to Release Job Figures Amid Government Shutdown

Wall Street Hits New Record Levels Amid Tech Stock Gains

Wall Street Hits New Record Levels Amid Tech Stock Gains

Stegra to Purchase Iron Ore from Blacklisted Vale

Stegra to Purchase Iron Ore from Blacklisted Vale

Tesla Exceeds Q3 Delivery Expectations with 497,100 Cars

Tesla Exceeds Q3 Delivery Expectations with 497,100 Cars

US Urges Astra Zeneca to Move Headquarters to New York

US Urges Astra Zeneca to Move Headquarters to New York

Proposal for New Nuclear Waste Management Organization in Sweden

Proposal for New Nuclear Waste Management Organization in Sweden

Sweden Prepares Crisis Guide for Businesses Amid Potential War

Sweden Prepares Crisis Guide for Businesses Amid Potential War

Danish State Loses Major Tax Case Over 12 Billion Kronor Fraud

Danish State Loses Major Tax Case Over 12 Billion Kronor Fraud

Folk High School Program Extended for Long-Term Unemployed

Folk High School Program Extended for Long-Term Unemployed