Ticker
Inflation in Turkey hits 36%
By EUobserver
Turkey's annual inflation rate has soared to a 19-year high, the BBC reports, underlining worries about the country's lira. Prices rose more than 36 percent in December as the cost of transport, food and other staples ate into household budgets. Turkey's Central Bank has lowered interest rates, amid a collapse in the value of the currency. The lira lost 44 percent of its value against the dollar in 2021.