Dizzying fuel hikes fan popular grievances in Turkey
With Turkey’s consumer inflation already at 54.4%, price increases on fuel alone threaten to add two percentage points to the monthly inflation rate in March.
A seemingly endless stream of fuel price hikes has sparked a nationwide outcry in Turkey, where the surge in global energy prices has been amplified by the depreciation of the Turkish lira, with annual inflation already at 54.4%.
Since Russia’s incursion into Ukraine on Feb. 24, Turkish consumers have struggled to keep up with the hikes on gasoline and diesel, including a string of increases announced over six days in a row this month.
