Skip to content
48%
“It began with a few outraged customers posting photographs of their electricity bills to social media, showing how charges had almost doubled at the end of January. But such complaints have quickly snowballed into a full-blown political crisis for the government of President Recep Tayyip Erdogan of Turkey,” the New York Times reports. “Turks have been hit with runaway inflation — now officially more than 48 percent — for several months, and criticism is growing even from Mr. Erdogan’s own allies as he struggles to lift the country out of an economic crisis.“
7.5%
U.S. inflation accelerated to a 7.5% annual rate in January, rising to a new four-decade high, the Wall Street Journal reports. CNBC: “That marked the biggest gain since February 1982 and was even higher than the Wall Street estimate.”
48.7%
“Turkey’s official inflation rate reached the highest level since Recep Tayyip Erdogan’s ruling party came to power almost two decades ago, as global inflationary pressures combine with the president’s unorthodox economic management to fuel a surge in prices,”The Financial Times reports.
