Türkiye’s annual inflation rate increases by over 10 per cent in August

Türkiye's annual inflation increased from 47.8 per cent in July to 58.94 per cent in August 2023.

“Inflation rate was 9.09 per cent on a monthly basis and 58.94 per cent on an annual basis in August,” Prime reports, citing the Turkish Statistical Institute (TUIK).

The Independent Inflation Research Group (ENAG) stated that the figure in annual terms reached 128.05 per cent.

Earlier, Türkiye's central bank raised its year-end inflation forecast from 22.3 per cent to 58 per cent.