May 6, 2022
1 min read

Inflation Dogs Turkey

Turkey is undergoing financial woes unseen in decades, with the Turkish lira losing half its value last year due to the COVID-19 pandemic.

The Russia-Ukraine conflict also worsened the situation, pushing energy prices to new highs. Economists predicted that Turkey is likely to live with high inflation throughout 2022. IMAGE – People shop at a market in Ankara, Turkey, on May 5, 2022. Turkey’s annual inflation jumped to 69.97 percent in April, reaching a two-decade high, the Turkish Statistical Institute announced Thursday. The country’s consumer prices rose 7.25 percent month on month in April, according to data released by the institute.

(Photo by Mustafa Kaya/Xinhua)

ALSO READ: Gallery: Libraries at Oxford

Previous Story

UAE records 199 new Covid-19 cases

Next Story

Pakistan renews ties with Riyadh

Latest from Arab News

Khamenei Breaks Cover in Tehran

Iran’s Supreme Leader makes first public appearance since conflict with Israel, as mystery over his wartime absence continues. Iran’s Supreme Leader Ayatollah Ali Khamenei made his first public appearance on Saturday since

Macron Eyes UK Shift on Palestine

While both France and the UK agree in principle on recognising a Palestinian state, there are significant differences over the timing and political conditions…reports Asian Lite News French President Emmanuel Macron is

‘Global firms profiting from Gaza genocide’

Report by Francesca Albanese singles out companies such as Palantir and calls for prosecutions…reports Asian Lite News The UN special rapporteur on human rights in the occupied Palestinian territories has called for

UK reestablishes diplomatic ties with Syria

Alongside the visit by Lammy, the government announced an additional £94.5m support package to cover humanitarian aid and support longer-term recovery within Syria and countries helping Syrian refugees Foreign Secretary David Lammy

G42 AI tool boosts procurement by 40%

Abu Dhabi’s tech giant leads the charge in AI-driven operational transformation with (In)Business Procurement platform. Abu Dhabi-based global technology powerhouse G42 has taken a major leap in enterprise digital transformation with the
Go toTop

Don't Miss

Israel announces completion of high-tech underground wall around Gaza

Israel has announced the completion of a high-tech underground wall

Trapped in cars, 21 tourists freeze to death in Pakistan

At least 21 people died of cold after they were