Will Turkey's new inflation calculations impact more than just economy?
Realizing that double-digit inflation could negatively affect the upcoming presidential system referendum, Turkey has changed its method of calculating the inflation rate.
The Official Statistical Agency of Turkey (TUIK), which has been routinely coming out with creative reconfigurations of its methods of calculation of essential data, introduced its latest innovation Jan. 25 with changes it made to the "inflation basket."
In December 2016, the TUIK had altered the national income calculation method, which increased, on paper, national per capita income from $9,130 to above $11,000 overnight; this became a topic of bitter humor.
