Citizens complain of high cost of living

Citizens in Turkey struggle with the rise in inflation rate to more than 85 percent in October, highest in 25 years, as prices of basic commodities such as foodstuffs and energy have increased significantly during the past month compared to the same period last year.

Economists explained that the decision of the Central Bank of Turkey to lower the interest rate is related to the economic, political and social conditions in Turkey, stressing the need to have patience and wait to see how these decisions would work in favor of Turkey’s economy.

The Central Bank of the Republic of Turkey continues to implement its monetary policy of low interest rates, despite the high inflation rates and Turkish lira crash.