Turkey predicted inflation at 80 percent
Analysts at Goldman Sachs predicted that annual inflation in Turkey could reach 80 percent. Reuters writes about it.
According to analysts’ forecasts, after 80 percent inflation in Turkey will have to drop to 60 percent. This is due to the so-called favorable base effect. The national Turkish currency lost 44 percent against the dollar last year and another 24 percent in 2022.
As a result of May, annual inflation in Turkey accelerated, reaching 73.5 percent, and became a record for 24 years. Price increases in 2022 topped the highs of 1998, when the country faced an economic crisis and a reshuffling of an unstable coalition government.