ISTANBUL: Turkey's inflation has soared to a 20-year record, official data showed Monday , as analysts see an impact from Russia's invasion of Ukraine and President Recep Tayyip Erdogan's unorthodox interest rate policy.
Turkey has recorded double digit inflation since early 2017 but the latest figure is the highest since the ruling Justice and Development Party came to power in 2002. The biggest price increases in March were in transportation and food prices, according to the statistics agency.While countries around the world are facing rising inflation as energy prices have soared while economies emerge from COVID-19 restrictions, Turkey's problems have also been affected by Erdogan's unorthodox economic approach.
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