Turkey’s inflation tops 80% as poverty deepens

Even though Turkey’s economy continued to expand in the second quarter, the share of payments to employees dropped to the lowest level since Erdogan’s party came to power two decades ago.
Turkey economy
Hazelnut farmer Emina spreads hazelnuts out for drying after harvesting on August 27, 2022 in Ordu, Turkey. Turkey's rising inflation is taking a toll on the region's hazelnut farmers and could soon see supplies shrink. - Chris McGrath/Getty Images
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Mustafa Sonmez
@mustfsnmz

With presidential and parliamentary polls less than a year away, Turkey’s government has bet on growth to contain popular grievances, but runaway inflation and a foreign-currency crunch is producing deeper poverty.

Consumer prices in Turkey rose 1.46% from July to August, official data showed Monday, with annual inflation surging to a 24-year high of 80.21%. 

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