Turkiye inflation drops below 50%: A boost for Erdogan's economic strategy

In a significant development for Turkiye’s economy, the nation’s inflation rate has dropped below 50 per cent for the first time in months, offering a potential boost to President Recep Tayyip Erdogan’s economic strategy. The Financial Times reports that the reduction in inflation is seen as a crucial step toward stabilising the country’s economic environment, which has faced volatility and significant challenges over the past year. According to the latest figures released by the Turkish Statistical Institute, annual inflation has fallen to 48.9 per cent, down from its peak of over 85 per cent in late 2022. This decline is attributed to a combination of tighter monetary policies implemented by the Central Bank of Turkiye and a decrease in global […]