ANKARA — The annual inflation rate has hit 25%, the Turkish Statistical Institute declared Monday. It was the first time since July 2003 that inflation had climbed so high, causing Turks to recall the turbulence of the 1990s and early 2000s when people bought eggs and cheese with banknotes denominated in millions of lira.
Finance Minister Berat Albayrak sought to reassure citizens by telling a pro-government TV channel that his recently announced campaign called “Total Struggle Against Inflation” was working.