NEWS

Erdogan says he is saddened by inflation at 36% in 2021

erdogan-says-he-is-saddened-by-inflation-at-36-in-2021

Turkish President Tayyip Erdogan said on Monday he was saddened by his country’s 2021 annual inflation after it soared to 36.1%, adding his government was determined to lower it to single digits.

Speaking after a cabinet meeting, Erdogan also said the rise in inflation was due to an increase in global commodity prices and a decline of the lira, which lost nearly 44% of its value last year.

He also said authorities would inspect exorbitant price rises and announced additional support for civil servants’ and pensioners’ wages. [Reuters]