Skip to main content

Turkey's inflation slows most in December in a boost to Erdogan

Facing crucial elections in spring, the Turkish government is trying to take credit for curbing inflation, even though the steep decline in the annual rate owes mostly to a favorable base effect.
A man counts Turkish liras at a currency exchange office, Istanbul, Turkey, July 29, 2020.

Turkish consumer prices rose 1.18% month-on-month in December, while annual inflation dropped to 64.27%, down nearly 20 percentage points from the previous month thanks mainly to a favorable base effect, official data showed Tuesday. 

The trend is expected to continue in the coming months as the government tries to take the credit for the decline in the lead-up to crucial elections.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 for annual access.