Ankara-Sana
The inflation rate in Turkey rose to its highest level on an annual basis since September 2002, reaching 36.08 percent.
The Turkish Statistical Institute said in a statement that consumer prices rose on a monthly basis by 13.58 percent, compared to experts' expectations, which indicated only 9 percent.
The lira was trading at 13.6 against the dollar, down 3 percent, and the Turkish currency lost 44 percent of its value last year.
At the same time, the latest data showed that the producer price index rose by 19.08 on a monthly basis in December and by 79.89 on an annual basis, which reflects a sharp rise in import prices with the collapse of the currency.
It is noteworthy that the accumulation of the failure of the policies of the President of the Turkish regime, Recep Tayyip Erdogan, at the political and economic levels over the years, negatively affected his country's economy, which put unprecedented pressure on the currency and led to an increase in inflation rates and the spread of unemployment.
