True annual inflation in Turkey reaches 60%, research team says

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Turkey’s annual inflation is almost 60%, a research team finds

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Just before government agency TürkStat announces official inflation rate consumer inflation in Turkey in November 2021 at 21.31%, the Inflation Research Group (ENAG) had announced its own rate: 58.65%.

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The Inflation Research Group (ENAG), founded by a group of academics and announcing alternative inflation rates in Turkey, estimated that Turkey’s monthly consumer inflation was 9.91% and annual inflation was 58.65% in November 2021.

According to ENAG, the largest monthly price increase was recorded in the category “leisure and culture” with 21.11%. The lowest monthly price increase was recorded in communications (1.38%).

Commenting on the data on his social media account, ENAG Executive Director Prof. Weisel Ulusoy said, “The key interest rate has fallen, inflation has risen. Inflation is approaching at an uncontrollable rate.”

While the wide gap between the figures released by the Turkish State Statistics Service (TürkStat) and those of ENAG is striking, economists, journalists and opposition politicians have long criticized TürkStat figures for not reflecting the truth.

It is characteristic that if the data is announced by the Turkish Statistical Service, Official Opposition Leader Kemal Kilicdaroglu Arrives at Office to request information on publications.

An unknown person blocked the entrance to the president of the Republican People’s Party (CHP) and said that he could not allow him to enter.

Petros Kranias

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Source From: Capital

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