Turkish inflation stabilises at under 80% ...Kuwait

The New Arab - News
Turkish inflation stabilises at under 80%
source : The New Arab ( Kuwait ) () 42
Turkey's annual inflation rate stabilised in July at just under 80 percent, official data showed on Wednesday, helping support President Recep Tayyip Erdogan's pledges that runaway prices increases would soon stop. The official annual rate of consumer price increases reached 79.6 percent in July compared to 78.6 percent in June. Turkey plunged into a fresh economic crisis when Erdogan set off on an unusual economic experiment nearly a year ago that attempted to bring down chronically high inflation by slashing interest rates. Conventional economic theory accepted by world governments states that lower interest rates drive growth and push up prices by building up deman

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