Annual inflation in Turkiye reached record 64.77% in December
The annual inflation rate in Turkiye accelerated to 64.77 percent in December 2023, surpassing November’s 62 percent, with the last months of the previous year recording the highest inflation rate in the country since 2001, TASS reports
The information is provided by the Turkish Statistical Institute. However, independent economists from the Inflation Research Group (ENAG) report that inflation in Turkiye reached 127.2 percent in December – up from 129.3 percent in November.
In accordance with data provided by the Turkish Statistical Institute, the salaries of public sector workers and civil servants were determined based on the new monthly minimum wage approved on December 27th. Its size was 17,002 Turkish Liras (about $579). According to A Haber TV channel, the minimum salary will be 32,960 Liras ($1,108).
The Central Bank of Turkiye predicted that inflation in the country at the end of 2023 would stand at about 65.39 percent.
Economic growth in Turkiye is expected to reach 4.22 percent in 2023. According to the Central Bank’s forecasts, a year later the growth of the Turkish economy will be 3.29 percent.
